Chapter 1, Problem 1.37BE

(Learning Objectives 3, 4: Apply the accounting equation; construct a balance sheet) The following are the assets and liabilities of Mary Burke Realty Company, as of March 31, 2018. Also included are revenue, expense, and selected stockholders’ equity figures for the year ended on that date (amounts in millions):

Total revenue.......................................	$ 40,4	Investment assets (long-term)......	$135.1
Receivables..........................................	0.1	Property and equipment, net.......	1.4
Current liabilities.................................	2.7	Other expenses............................	6.6
Common stock.....................................	27.9	Retained earnings, beginning.......	17.2
Interest expense....................................	0.4	Retained earnings, ending...........	?
Salary and other employee expenses.....	15.2	Cash............................................	1.6
long-term liabilities.............................	102.3	Other assets (long-term)..............	10.3

Requirement

  1. Construct the balance sheet of Mary Burke Realty Company at March 31, 2018. Use the accounting equation to compute ending retained earnings.