The Baldwin Company currently has the following balances on their balance sheet: Total Liabilities $69,309 Common...
The Baldwin Company currently has the following balances on their
balance sheet:
Total
Liabilities
$69,309
Common
Stock $9,871
Retained
Earnings $86,004
Suppose next year the Baldwin Company generates $36,500 in net
profit and pays $15,000 in dividends and total liabilities and
common stock remain unchanged. What must their total assets be next
year?
Select: 1
$165,184
$186,684
$95,875
$216,684
Homework Answers
Total Liabilities this year = $69,309
Common Stock this year = $9,871
Retained Earnings this year = $86,004
Net profit next year = $36,500
Payment as dividends next year = $15,000
Retained earnings for next year = Retained Earnings this year + Net Profit next year - Dividends paid next year
= 86004 + 36500 - 15000
= $107,504
Total assets next year = Liabilities + Common stock + Retained earnings for next year
= 69309 + 9871 + 107504
= $186,684
Hence the correct answer is option B.
Add Answer to:
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