Answered

Taylor Company has $10,000 of assets, $2,000 of liabilities, and $5,000 of common stock. Based on this information alone, the company's retained earnings equal ______.

Sagot :

Abiolataiwo2015id

Based on this information alone, the company's retained earnings equal $3,000.

Retained earning

Using this formula

Retained earning= Assets-liabilities-Common stock

Where:

Assets=$10,000

Liabilities=$2,000

Common stock=$5,000

Let plug in the formula

Retained earning=$10,000-$2,000-$5,000

Retained earning=$3,000

Inconclusion  the company's retained earnings equal $3,000.

Learn more about retained earning here:https://brainly.com/question/25631040

ID Other Questions