Answer:
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Answer:
$72.206 million
Explanation:
To get Chester Corporation's total assets, recall that;
Total liabilities = Total assets - (Retained earning + Total common stock)
Given that;
Total assets = ?
Retained earning = $18.275 million
Total liabilities = $51.391 million
Total common stock = $2.540 million
Total liabilities = Total assets - (Retained earning + Total common stock)
$51.391 = Total assets - ($18.275 + $2.540)
$51.391 = Total assets - $20.815
Total assets = $51.391 + $20.815
Total assets = $72.206
Therefore, Chester Corporation's total asset is $72.206 million.
