Kolander Company has the following accounts and balances at the end of the year:
Longminus Term Notes Payable $59,000
Interest Payable $5,500
Accounts Receivable $30,000
Land $42,000
Accounts Payable $38,000
Shortminus term Investments $7,000
Building $59,000
Income Taxes Payable $10,000
Cash and Cash Equivalents $80,000
Equipment $64,500
Common Stock $127,000
Supplies $6,000
What is the amount of Retained Earnings at the end of the year?
a. $177,000
b. $54,000
c. $113,500
d. $167,500
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Home » Business » Kolander Company has the following accounts and balances at the end of the year: Longminus Term Notes Payable $59,000 Interest Payable $5,500 Accounts Receivable $30,000 Land $42,000 Accounts Payable $38,000 Shortminus term Investments $7,000