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Determine what is the balance in retained earnings

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Problem 1: Based on the following data and assuming that the common stock account balance is $51000, what is the balance in retained earnings?

Accounts payable $87000
Accounts receivable 66000
Cash 80000
Inventory 137000
Buildings 161000
Bonds payable 512000
Supplies 9200
Notes payable 62000
Equipment 349000

Reference no: EM132689959

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