Homework answers / question archive / Choose the correct answer

Choose the correct answer

Accounting

Share With

Choose the correct answer.

In reviewing the company's balance sheet, Andy noticed that the total asset is stated as $5,500,000 and the total liability is $3,250,000. There is no paid-in capital or value for common stock. What are the company's retained earnings?

A) Can't determine with the information given

B) $8,750,000

C) $2,250,000

D) There are no retained earnings