Answer:
Total Liabilities = $62.273 million
Explanation:
<em>The accounting equation state that :</em>
Total assets = capital + liabilities.
<em>This is a fundamental relationship that underpins the preparation of financial statements</em>
<em>Capital for a company is represented by the shareholders funds which is the book value of issued common stock, share premium plus the retained earnings.</em>
So we can apply the equation to the figures of Chester Corporation
81.965 =( $2.540 + 17.152 ) + liabilities
Liabilities = 81.965 - ( $2.540 + 17.1552 )
= $62.273 million
Total Liabilities = $62.273 million