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What must their total liabilities be next year

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Reference no: EM132241040

Question - Company Y currently has the following balances on their balance sheet:

Assets $198,162

Common Stock $46,723

Retained earnings $29,420

Suppose next year the Company Y generates $20,000 in net profit, pays $10,000 in dividends, assets change to $151,000, and common stock remains unchanged. What must their total liabilities be next year?

a: $122,019

b: $111,580

c: $64,857

d: $44,857

Reference no: EM132241040

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