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Retained earnings
How do I start to figure out how to do retained earnings of an asset? I have taken accounting 1,2,3 already but it has been a few quarters. I am now taking Intermediate accounting 1 and 2 online and having some problems. Please someone help me.
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If a corporation has assets of $250,000, liabilities of $70,000, and capital stock of $120,000, what is the amount of retained earnings?
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