Assume the following account balances:Cash $30,000:Equipment $23,000;Accounts Receivable 45,000;Bank Loan 65,000;Supplies 3,000;Accounts Payable 35,000;Land 13,000;Share...
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Accounting
Assume the following account balances:Cash $30,000:Equipment $23,000;Accounts Receivable 45,000;Bank Loan 65,000;Supplies 3,000;Accounts Payable 35,000;Land 13,000;Share Capital ?;Building 67,000;Net Income 29,000. No dividends were paid. Calculate retained earnings.
a.
$29,000
b.
$52,000
c.
$100,000
d.
$6,000
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