Accounting Assignment
Calcitron Corporation has provided the following financial information as of April 30, 2017:
|
Accounts payable
|
$ 15,000
|
|
Accounts receivable
|
$ 12,000
|
|
Accrued expenses
|
$ 26,000
|
|
Accumulated depreciation
|
$ 10,000
|
|
Additional paid-in capital
|
$ 22,000
|
|
Allowance for doubtful accounts
|
$ 1,200
|
|
Cash
|
$ 25,000
|
|
Common stock
|
$ 40,000
|
|
Fixed assets
|
$ 75,000
|
|
Intangibles
|
$ 40,000
|
|
Inventory
|
$ 17,000
|
|
Long-term notes payable
|
$ 80,000
|
|
Prepaid expense
|
$ 12,000
|
|
Treasury stock
|
$ 4,000
|
|
Wages payable
|
$ 12,000
|
What is the amount of Calcitron's retained earnings as of April 30, 2017?