Please give me true answer this financial accounting question OceanView Corporation's assets total$850,000 and its liabilities total $480,000.What is the amount of Ocean View's retainedearnings if its capital stock amounts to$300,000?

Step 1: Define Retained EarningsRetained earnings refer to the cumulative portion of a company's net…

Answered: OceanView Corporation's assets total…

Financial Management: Theory & Practice

16th Edition

ISBN:9781337909730

Author:Brigham

Publisher:Brigham

Chapter2: Financial Statements, Cash Flow,and Taxes

Section: Chapter Questions

Problem 10MC

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OceanView Corporation's assets total $850,000 and its liabilities total $480,000. What is the amount of Ocean View's retained earnings if its capital stock amounts to $300,000?