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What must their total liabilities be next year

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Reference no: EM133030177

Problem - The Baldwin company currently has the following balances on their balance sheet: Assets $261,656 Common Stock $58,449 Retained earnings $52,148 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?

a. $30,403

b. $10,403

c. $151,059

d. $88,852

Reference no: EM133030177

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