If total assets of Hercules Manufacturing, Inc. are $556,000, Retained Earnings at December 31, 2010, must be:
A) $811,000.
B) $180,000.
C) $221,000.
D) $335,000.

Name: If total assets of Hercules Manufacturing, Inc. are $556,000, Retained Earnings at December 31, 2010, must be: A) $811,000. B) $180,000. C) $221,000. D) $335,000.
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Question

Quizplus · Accepted Answer

We cannot determine the Retained Earnings without further information. We need to know the total liabilities and equity of the company to calculate the Retained Earnings.

If Total Assets of Hercules Manufacturing, Inc