Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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Transcribed Image Text:The Baldwin Company currently has the following balances on their balance sheet:
Assets
$198,371
Common Stock
$10,873
Retained earnings $103,433
Suppose next year the Baldwin Company generates $20,000 in net profit, pays $10,000 in dividends,
assets change to $151,000, and common stock remains unchanged. What must their total liabilities
be next year?
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