Question - The Baldwin Company currently has the following balances on their balance sheet:
Total Liabilities $138,888
Common Stock $55,651
Retained Earnings $43,516
Suppose next year the Baldwin Company generates $36,500 in net profit and pays $15,000 in dividends and total liabilities and common stock remain unchanged. What must their total assets be next year?
$259,555
$99,167
$289,555
$238,055