Please explain the calculation: The Baldwin Company currently has the following balances on their balance...
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Accounting
Please explain the calculation:
The Baldwin Company currently has the following balances on their balance sheet:
Total Liabilities $139,915 Common Stock $53,134 Retained Earnings $37,069
Suppose next year the Baldwin Company generates $36,500 in net profit and pays $15,000 in dividends and total liabilities and common stock remain unchanged. What must their total assets be next year?
Choices: $90,203 $251,618 $281,618 $230,118
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