A company's balance sheet contained the following information:
|
|
|
Common Stock
|
$
|
12,300
|
|
Total Assets
|
$
|
179,000
|
|
Accounts Payable
|
$
|
64,300
|
|
Retained Earnings
|
$
|
28,300
|
|
|
Notes Payable is the only other item on the balance sheet. Notes Payable must equal:
a) $74,100
b) $9,800
c) $12,100
d) $76,000