
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN: 9781337115773
Author: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher: Cengage Learning
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Question
What will be ending balance in common stock next year?

Transcribed Image Text:The Ben Affleck Corporation currently has the following balances on its
balance sheet:
Total assets
$180,500
Total liabilities
$75,620
Retained earnings $95,880
Suppose next year, Brighton Corporation generates $50,300 in net profit,
pays $15,000 in dividends, total assets increase by $65,000, and total
liabilities remain unchanged. What will be Brighton Corporation's ending
balance in common stock next year?
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