Answer:
Blue Devils Corporation balance sheet as at December 31, 2021
Non - Current Assets
Equipment, $117,000
Less Accumulated Depreciation ($43,500)
Total Non - Current Assets $73,500
Current Assets
Cash, $4,700
Accounts Receivable, $8,700
Supplies, $18,700
Total Current Assets $32,100
Total Assets $105,600
Current Liabilities
Accounts Payable, $25,700
Salaries Payable, $15,700
Total Current Liabilities $41,400
Equity
Common Stock, $57,000
Retained Earnings (Balancing Figure) $7,200
Total Equity $64,200
Total Equity and Liabilities $105,600
Explanation:
The Balance of retained earnings is determined by missing figure approach using the Accounting Equation : Assets = Liabilities + Equity.
