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Turner Company has the following information on its December 31 balance sheet:

Turner Company has the following information on its December 31 balance sheet:

Current Assets $ 40,000

Current Liabilities $ 10,000

Non current Assets 100,000

Non current Liabilities 60,000

Total Assets 140,000

Total Liabilities 70,000

If Turner has total paid-in capital of $50,000 on December 31, what is the amount of its retained earnings?

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Retained Earning is $20000... View the full answer

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