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Discuss compute retained earnings

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Reference no: EM131818624

Shenika Salon & Spa, Inc. hired a bookkeeper who prepared the following Balance Sheet:

Assets        Liabilities  
Current Assets:     Current Liabilities:  
Cash  $        31,800   Accounts payable  $      17,470
Accounts receivable 24,405   Notes payable 14,180
Supplies 2,525      
Prepaid insurance 1,300   Stockholder's Equity  
Equipment 13,200   Common Stock 30,000
Total Assets     Retained Earnings   
        Total Stockholder's Equity   
      Total Liabilities + Stockholder's Equity  

Compute Retained Earnings.

Reference no: EM131818624

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