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Accounting

Please use the following information to answer questions 4-5:

Cash $10,000 Accounts Payable $7,000
Accounts Receivable $6,400 Mortgage Payable $65,000
Supplies $1,500 Long-term Debt $36,000
Building $150,000 Notes Payable $9,000
Equipment $80,000 Preferred Stock $32,000
Merchandise Inventory $18,000 Retained Earnings ?
Prepaid Rent $3,000
Common Stock $60,000

Retained earnings total:
A. $59,900
B. $78,100
C. $92,000
D. $151,900

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9617022

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