Lawton Corporation's end-of-year balance sheet consisted of the following amounts:
$$\begin{array} { l r l r }
\text { Cash } & \$ 25,000 & \text { Accounts receivable } & \$ 58,000 \
\text { Property, plant, and } & & & \
\text { equipment } & 69,000 & \text { Long-term debt } & 40,000 \
\text { Capital stock } & 100,000 & \text { Accounts payable } & 20,000 \
\text { Retained earnings } & ? & \text { Inventory } & 43,000
\end{array}$$ What amount should Lawton report on its balance sheet for total assets?
A)$100,000
B)$161,000
C)$194,000
D)$195,000

Question

Lawton Corporation's end-of-year balance sheet consisted of the following amounts:  
$$\begin{array} { l r l r } 
\text { Cash } & \$ 25,000 & \text { Accounts receivable } & \$ 58,000 \
\text { Property, plant, and } & & & \
\text { equipment } & 69,000 & \text { Long-term debt } & 40,000 \
\text { Capital stock } & 100,000 & \text { Accounts payable } & 20,000 \
\text { Retained earnings } & ? & \text { Inventory } & 43,000
\end{array}$$ What amount should Lawton report on its balance sheet for total assets?
A)$100,000
B)$161,000
C)$194,000
D)$195,000

Quizplus · Accepted Answer

The Answer of Lawton Corporation's end-of-year balance sheet consisted of the following amounts:  
$$\begin{array} { l r l r } 
\text { Cash } & \$ 25,000 & \text { Accounts receivable } & \$ 58,000 \
\text { Property, plant, and } & & & \
\text { equipment } & 69,000 & \text { Long-term debt } & 40,000 \
\text { Capital stock } & 100,000 & \text { Accounts payable } & 20,000 \
\text { Retained earnings } & ? & \text { Inventory } & 43,000
\end{array}$$ What amount should Lawton report on its balance sheet for total assets?
A)$100,000
B)$161,000
C)$194,000
D)$195,000

Lawton Corporation's End-Of-Year Balance Sheet Consisted of the Following Amounts