Use the Incomplete Stockholders' Equity Section of Wilmerding Company's Balance

question 107

Multiple Choice

Use the incomplete Stockholders' Equity section of Wilmerding Company's balance sheet as of December 31,2017,to answer the following question. ?
$\begin{array}{lr}\text { Common stock } \$ 7 \mathrm{p} \text { ar, } 100,000 \text { shares authorized } & \$ 700,000 \\\text { Additional paid-in capital—common } & 160,000 \\\text { Retained earnings } & ? \\\text { Treasury stock (2,000 shares at cost) } & (16,000) \\\text { Total stockholders' equity } & 974,000\end{array}$
What is the amount of Wilmerding's retained earnings?

• A)$130,000
• B)$98,000
• C)$860,000
• D)$114,000

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Excludes1

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