Answer:
$149,000
Explanation:
The basic accounting equation is; ASSETS = LIABILITIES + CAPITAL
Retained earnings is the missing figure in order to balance the equation. Salaries Expense will not be considered as it is an Income Statement item and not enough Data is provided to prepare an Income Statement.
ASSETS
Building $57,000
Land $41,000
Equipment $61,500
Accounts Receivable $31,000
Short-term investments $7,000
Cash and Cash Equivalents $82,000
Total Assets $279,500
LIABILITIES
Accounts Payable $38,000
Interest Payable $1,500
Income Taxes Payable $10,000
Long Term Notes Payable $56,000
Total Liabilities $105,500
EQUITY
Common Stock $25,000
Retained Earnings $149,000
Total Equity $279,500
