Answer:
$80,000
Explanation:
During the first year of oeration Maria Rose invested $25,000 in Roseland incorporation
The company earned $68,000 in revenue
They incurred expenses of $32,000
A cash dividend of $5,000 was paid out to Maria
The company owed $24,00£ to its creditors
Assets = liabilities - equity
The first step is to calculate the equity
Equity= common stock - dividend + revenue-expenses incurred
= $25,000-$5,000+$68,000-$32,000
= $20,000+$36,000
= $56,000
Therefore the company's assets can be calculated as follows
= $24,000 + $56,000
= $80,000
Hence the total company's assets is $80,000
