The total assets of Lafayette Company are $66,030. Common stock account is $22,480, dividends are $8,980, revenues are $43,960, and expenses are $39,080. What is the amount of the company's total liabilities?

The total assets of Lafayette Company are $66,030. Common stock account is $22,480, dividends are $8,980, revenues are $43,960, and expenses are $39,080. What is the amount of the company's total liabilities?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 17BEA: Ernst Companys balance sheet shows total liabilities of 32,500,000, total stockholders equity of...

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