Question: 22. Based on the following data and assuming that the common stock account balance is $48,000, what is the balance in retained earnings? Accounts payable..

22. Based on the following data and assuming that the common stock account balance is $48,000, what is the balance in retained earnings?

Accounts payable.. $62,000

Accounts receivable.. 50,000

Cash. 70,000

Inventory. 138,000

Buildings. 160,000

Bonds payable 500,000

Supplies. 8,000

Notes payable. 56,000

Equipment 340,000

a. $218,000

b. $162,000

c. $148,000

d. $100,000

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