Algonquin Company Reported Assets of $50,000,liabilities of $22,000 and Common

question 33

Multiple Choice

Algonquin Company reported assets of $50,000,liabilities of $22,000 and common stock of $15,000.Based on this information only,what is the amount of the company's retained earnings?

• A)$7,000.
• B)$57,000.
• C)$13,000.
• D)$87,000.

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