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What is the amount of its retained earnings

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Question - Turner Company has the following information on its December 31 balance sheet:

Current Assets $ 40,000

Current Liabilities $ 10,000

Non current Assets 100,000

Non current Liabilities 60,000

Total Assets 140,000

Total Liabilities 70,000

If Turner has total paid-in capital of $50,000 on December 31, what is the amount of its retained earnings?

Reference no: EM131975056

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