Use the data given below: . Current assets total $375,000 . Non-current assets total $825,000 . Current liabilities total $300,000 . Non-current liabilities total $450,000 Owners' investment totals $200,000 • What is the dollar amount of retained earnings?

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
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Chapter12: Current Liabilities
Section: Chapter Questions
Problem 3MC: The following is selected financial data from Block Industries: How much does Block Industries have...
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Please explain the solution to this general accounting problem using the correct accounting principles.

Use the data given below:
. Current assets total $375,000
. Non-current assets total $825,000
. Current liabilities total $300,000
. Non-current liabilities total $450,000
Owners' investment totals $200,000
•
What is the dollar amount of retained earnings?
Transcribed Image Text:Use the data given below: . Current assets total $375,000 . Non-current assets total $825,000 . Current liabilities total $300,000 . Non-current liabilities total $450,000 Owners' investment totals $200,000 • What is the dollar amount of retained earnings?
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