Question: 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

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 $162,000 $148,000 $100,000 $218,000

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