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Bennett Inc. has the following balances in their accounts at year end. What is their total...

Bennett Inc. has the following balances in their accounts at year end. What is their total equity? Accounts Payable $ 75,000 Accounts Receivable $ 35,700 Retained Earnings $ 57,000 Utilities Expense $ 12,500 Sales Revenue $ 250,000 Buildings $ 150,000 Common stock (contributed capital) $ 200,000 Cash $ 30,000 Equipment $ 84,500 Income taxes payable $ 7,500 Travel expense $ 2,200 Land $ 60,000 Rent Expense $ 150,000 Furniture $ 112,900 Salaries expense $ 55,500 Enter the amount as a whole number, no commas, no dollar signs.

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Answer #1

Calculate total equity

Retained earnings 57000
Common Stock 200000
Total equity 257000
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