3. Assets = Liabilities + Shareholders’ Equity
$1,135,000 = (100,000 + 75,000 + Shareholders’ Equity)
Stockholders' equity = $960,000 = Contributed Capital + Retained Earnings
$750,000 + Retained Earnings = $960,000
Retained Earnings = $210,000
Nickel Industries
Balance Sheet
As of Fiscal Year End December 31, 2011
(in dollars)
Assets
Cash $180,000
Accounts Receivable 30,000
Inventory 325,000
Net Property, Plant & Equipment 600,000
Total Assets $1,135,000
Liabilities
Accounts Payable $75,000
Notes Payable 100,000
Total Liabilities $175,000
Shareholders’ Equity
Contributed Capital $750,000
Retained Earnings 210,000
Total Shareholders’ Equity 960,000
Total Liabilities and Shareholders’ Equity $1,135,000
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