obbin Corporation ended its fiscal year on September 30, 2018, with cash of $77 million, accounts receivable of $25 million, property and equipment of $31 million, and other long-term assets of $19 million. The company's liabilities consist of accounts payable of $33 million and long-term notes payable of $23 million. Robbin Corporation has total stockholders' equity of $96 million; of this total, common stock is $26 million. Solve for the company's ending retained earnings and then prepare Robbin Corporation's balance sheet at September 30, 2018. Use a proper heading on the bal

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Robbin Corporation ended its fiscal year on September 30, 2018, with cash of $77 million, accounts receivable of $25 million, property and equipment of $31 million, and other long-term assets of $19 million. The company's liabilities consist of accounts payable of $33 million and long-term notes payable of $23 million. Robbin Corporation has total stockholders' equity of $96 million; of this total, common stock is $26 million. Solve for the company's ending retained earnings and then prepare Robbin Corporation's balance sheet at September 30, 2018. Use a proper heading on the balance sheet.

Begin by solving for the company’s ending retained earnings. (Enter your answer in millions.)

Robbin Corporation’s ending retained earnings balance is $                    million.

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