Hello tutor answer the accounting question not use ai Elston Company compiled the following financial information as ofDecember 31, 2010:Sales$140,000Common stock30,000Equipment40,000Expenses125,000Cash35,000Dividends10,000Inventory5,000Accounts payable20,000Accounts receivable15,000Retained earnings, 1/1/10 75,000Elston's total assets on December 31, 2010 is:a. $235,000b. $170,000c. $80,000d. $95,000

Step 1: Define AssetsAny resource with an economic value for the company is known as an asset. These…

Answered: Elston Company compiled the following…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 4PB

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