Question: Based on the following data and assuming that the common stock account balance is 48000, what is the balance in retained earnings? accounts payable 60000

Based on the following data and assuming that the common stock account balance is 48000, what is the balance in retained earnings?

accounts payable 60000

accounts receivable 5000

cash 7000

inventory 130000

buildings 150000

bonds payable 500000

supplies 8000

notes payable 56000

equipment 340000

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