Maddux, Inc., has completed its fiscal year and reported the following information. The company had current assets of $153,413, net fixed assets of $412,331, and other assets of $7,822. The firm also has current liabilities worth $65,314, long-term debt of $178,334, and common stock of $162,000. Calculate the amount of retained earnings. $243,648 $167,918 $573,566 $405,648

Retained earnings $ 167,918

Explanation:

To determine the amount of retained earnings, we need to consider the fundamental accounting equation of :

Assets = Liabilities + Shareholders Equity

The total assets are

Total Assets: Current Assets + Net Fixed assets + Other assets

$ 153,413 + $412,331 + $ 7,822 = $ 573,566

Total Liabilities: Current liabilities + long term debt

$ 65,314 + $ 178,334     =  $ 243,648

Common Stock = $ 162,000

Any remaining amount after the amounts are inserted into the accounting equation is the retained earnings amount.

$ 573,566 = $ 243,648 + $ 162,000   =  $ 167,918

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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answer; consideration;