Answer:
The correct option is the third one,$250,687
Explanation:
The key to ascertaining is accounting equation which that assets equal capital plus liabilities.
This implies that by determining the capital and liabilities,total assets sorted out.
Common stock $52,705
*Retained earnings for the year $62,223
Total equity and retained earnings $114,928
total liabilities $135,759
Total equity and liabilities $250,687
Total assets=total equity and liabilities=$250,687
Retained earnings for the year=prior year retained earnings+net profit-dividends paid
prior year retained earnings $40,723
net profit is $36,500
dividends is $15,000
*retained earnings for the year=$40,723+$36,500-$15,000=$62223
