What is Retained Earnings if..
-Cash = $5000
-A/R = $20,000
-Inventories = $60,000
-Property, Plant and Equip = $120,000
-Accounts Payable = $44,000
-Wages Payable = $15,000
-Paid in Capital = $100,000
-Short Term investments = $5,000.
-Liabilities of $30,000 note payable due in two years with related accured interest of $1,000due in four months.
-Current Ratio is 1.5/1
-Total current Assets = $90,000
Date is Dec 31st.