Multiple Choice
The balance sheet of the Algonquin Company reported assets of $50,000, liabilities of $22,000 and common stock of $15,000. Based on this information only, what is the amount of retained earnings?
A) $7,000.
B) $57,000.
C) $13,000.
D) $87,000.
Correct Answer:
Verified
Correct Answer:
Verified
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