William Corporation ended its fiscal year on September 30, 2021, with cash of $80 million, accounts...

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William Corporation ended its fiscal year on September 30, 2021, with cash of $80 million, accounts receivable of $20 million, property and equipment of $30 million, and other long-term assets of $23 million. The company's liabilities consist of accounts payable of $33 million and long-term notes payable of $25 million. William Corporation has total stockholders' equity of $95 million; of this total, common stock is $29 million. Solve for the company's ending retained earnings and then prepare William Corporation's balance sheet at September 30, 2021. Use a proper heading on the balance sheet. Begin by solving for the company's ending retained earnings. (Enter your answer in millions.) William Corporation's ending retained earnings balance is million. William Corporation ended its fiscal year on September 30, 2021, with cash of $80 million, accounts receivable of $20 million, property and equipment of $30 million, and other long-term assets of $23 million. The company's liabilities consist of accounts payable of $33 million and long-term notes payable of $25 million. William Corporation has total stockholders' equity of $95 million; of this total, common stock is $29 million. Solve for the company's ending retained earnings and then prepare William Corporation's balance sheet at September 30, 2021. Use a proper heading on the balance sheet. Begin by solving for the company's ending retained earnings. (Enter your answer in millions.) William Corporation's ending retained earnings balance is million.

Answer rating: 100% (QA)

To calculate the ending retained earnings for William Corporation we can use the formula Ending ... View the full answer