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Accounting Assignment
Calcitron Corporation has provided the following financial information as of April 30, 2017:
Accounts payable
$ 15,000
Accounts receivable
$ 12,000
Accrued expenses
$ 26,000
Accumulated depreciation
$ 10,000
Additional paid-in capital
$ 22,000
Allowance for doubtful accounts
$ 1,200
Cash
$ 25,000
Common stock
$ 40,000
Fixed assets
$ 75,000
Intangibles
Inventory
$ 17,000
Long-term notes payable
$ 80,000
Prepaid expense
Treasury stock
$ 4,000
Wages payable
What is the amount of Calcitron's retained earnings as of April 30, 2017?
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