Michael Company reports Total Assets of $254,000,Common Stock of $50,000,and Retained Earnings of $94,000.What are total liabilities at the end of the first year?
A)$110,000
B)$210,000
C)$160,000
D)$204,000

Name: Michael Company reports Total Assets of $254,000,Common Stock of $50,000,and Retained Earnings of $94,000.What are total liabilities at the end of the first year? A)$110,000 B)$210,000 C)$160,000 D)$204,000
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Total Assets $254,000 - (Common Stock $50,000 + Retained Earnings $94,000)= $110,000

Michael Company Reports Total Assets of $254,000,Common Stock of $50,000,and