B retained earnings appropriated 70000 unappropriated

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(b)Assume Eddie Zambrano Corporation restricted retained earnings in the amount of $70,000 on December 31, 2017. After this action, what would Zambrano report as total retained earnings in its December 31, 2017, balance sheet?
Presented below is the trial balance of Thompson Corporation at December 31, 2017.THOMPSON CORPORATIONTrial Balance December 31, 2017DebitCreditPurchase Discounts$ 10,000 Cash $ 189,700 Accounts Receivable 105,000 Rent Revenue18,000 Retained Earnings160,000 Salaries and Wages Payable18,000 Sales Revenue1,100,000 Notes Receivable110,000 Accounts Payable49,000 Accumulated Depreciation—Equipment 28,000 Sales Discounts14,500 Sales Returns and Allowances17,500 Notes Payable70,000 Selling Expenses232,000 Administrative Expenses99,000 Common Stock300,000 Income Tax Expense53,900 Cash Dividends45,000 Allowance for Doubtful Accounts5,000 Supplies14,000 Freight-In20,000 Land70,000 Equipment140,000 Bonds Payable100,000 Gain on Sale of Land30,000 Accumulated Depreciation - Buildings19,600 Inventory89,000 Buildings98,000 Purchases610,000 Totals$ 1,907,600 ###A physical count of inventory on December 31 resulted in an inventory amount of $64,000; thus, cost of goods sold for 2017 is $645,000.
InstructionsEnding: Retained Earnings 12/31/2017$ 201,100 Prepare a single-step income statement and a retained earnings statement. Assume that the only changes in retained earnings during the current year were from net income and dividends. Thirty thousand shares of common stock were outstanding the entire year.THOMPSON CORPORATIONIncome StatementFor the Year Ended December 31, 2017RevenuesNet Sales$ 1,068,000 Gain on disposal of land30,000 Rent revenue18,000 Total Revenues1,116,000 ExpensesCost of goods sold645,000 Selling expenses232,000 Administrative expenses99,000 Total expenses976,000 Income before taxes140,000 Income tax53,900 Net income (after tax)86,100 Earnings per Share$ 2.87 THOMPSON CORPORATIONRetained Earnings StatementFor the Year Ended December 31, 2017Beg: Retained Earnings 1/1/2017$ 160,000 Add: Net Income86,100 Less: Cash Dividends45,000

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