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What must total assets be next year

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Reference no: EM132856637

Andrews Company currently has the following balances in their liability and equity accounts:

Total Liabilities: $119,485,407

Common Stock: $13,308,000

Retained Earnings: -$10,530,811

Problem 1: Suppose next year the Andrews Company generates $36,500,000 in Net Profit, pays $15,000,000 in dividends, and total liabilities and common stock remain unchanged. What must their total assets be next year?

a) $143,762,596

b) $122,262,596

c) $173,762,596

d) -$10,530,811

Reference no: EM132856637

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