3 years ago

The Baldwin Company currently has the following balances on their balance sheet:

Business

1 answer:

Art [367]3 years ago

6 0

Answer:

$77,950

Explanation:

We know that,

Total assets = Total liabilities + Shareholder equity

where,

Total assets = $240,859 + $55,000 = $295,859

Total liabilities = $140,674

And, the Ending retained earning balance = Beginning balance of retained earnings + net income - dividend paid

= $45,035 + $44,200 - $12,000

= $77,235

Now the shareholder equity would be

= Total assets - total liabilities - ending retained earning balance

= $295,859 - $140,674 - $77,235

= $77,950

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