Homework SourseMidyear on July 31st the Baldwin Corporations balance sheet
| Midyear on July 31st, the Baldwin Corporation\'s balance sheet reported: Total Liabilities of $25.695 million Cash of $2.010 million Total Assets of $41.920 million Total Common Stock of $1.270 million. What were the Baldwin Corporation\'s retained earnings? | ||||||||
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| Midyear on July 31st, the Baldwin Corporation\'s balance sheet reported: Total Liabilities of $25.695 million Cash of $2.010 million Total Assets of $41.920 million Total Common Stock of $1.270 million. What were the Baldwin Corporation\'s retained earnings? | ||||||||
| Select: 1 | ||||||||
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Solution
The answer is \"$14.955 million\"
Retained earnings = (Total Assets - Total Liabilities) - Total common stock = (41.920 - 25.695) - 1.270 = $14.955
