Question

Mibyear on July 31st, the Baldwin Cor porations balance sheet reported Total Liabilities of $102.394 million Cash of $8.040 million Total Assets of $165.131 million Total Common Stock of $5.080 million. What were the Baldwin Corporations retained eamings? Select: 1 □ $57.657 million $65.697 million □ $67.817 million I﹁ $75.857 million , Long term) UIRER rorecasting
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Answer #1

Retained Earnings = Total Assets - Total Liabilities - Common stock

= $ 165.131 M - $ 102.394 - $ 5.080 M

= $ 57.657 M

Thus OPtion A is correct.

Pls comment, if any further assistance is required

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