Company Y currently has the following balances on its balance sheet: Assets Common Stock $198,162 $46,723 Retained earnings $29,420 Suppose next year Company Y generates $20,000 in net profit, pays $10,000 in dividends, assets change to $151,000, and common stock remains unchanged. What must their total liabilities be next year? a. $122,019. b. $111,580. c. $64,857. d. $44,857.

Company Y currently has the following balances on its balance sheet: Assets Common Stock $198,162 $46,723 Retained earnings $29,420 Suppose next year Company Y generates $20,000 in net profit, pays $10,000 in dividends, assets change to $151,000, and common stock remains unchanged. What must their total liabilities be next year? a. $122,019. b. $111,580. c. $64,857. d. $44,857.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 5P: Balance Sheet Calculations Cornerstone Development Companys balance sheet information at the end of...

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