Midyear on July 31st, the Digby Corporation's balance sheet reported: Total Liabilities of $128.297 million Total Common Stock of $6.350 million Cash of $10.050 million Retained Earnings of $45.255 million. What were the Digby Corporation's total assets

Respuesta :

Based on the information given  Digby Corporation's total assets is:$179.902 million .

Using this formula

Total assets = Total liabilities + Shareholders’ equity

Total assets= Total liabilities + ( Total common stock + Retained earnings)

Where:

Total liabilities= $128.297 million

Total common stock= $6.350 million

Retained earnings= $45.255 million

Let plug in the formula

Total assets= $128.297 million  + ( $6.350 million  + $45.255 million)

Total assets= $128.297 million  +$51.605 million

Total assets= $179.902 million  

Inconclusion  Digby Corporation's total assets is:$179.902 million .

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