Accounting balance sheet: equipment $ 39,200 buildings $ 500,000land 425,000 capital stock 135,000accounts payable 54,800 cash 31,400accounts receivable 10,600 furnishings 58,700salaries payable 33,500 snowmobiles 15,400interest payable 12,000 notes payable 620,000retained earnings ?

Retained earnings 225,000

Explanation:

Accounting Equation Formula:

    Assets = Liabilities + Stockholders' Equity

    Stockholders' Equity = Capital stock + Retained earnings

Replacing:  

    Assets = Liabilities + Capital stock + Retained earnings

    Retained earnings = Assets - Liabilities - Capital stock

In the case of our company:

    Retained earnings = Assets - Liabilities - Capital stock

    Retained earnings = 1,080,300 - 720,300 - 135,000

    Retained earnings = 225,000

To see the totals, please see attached file.

hi noah!

the first time you break a rule, you get a warning.

if you continue to break rules you get kicked out for a certain amount of time.

so, to answer your question 1.

hope this buddy!

- courtney