These items are taken from the financial statements of Wildhorse Co. at December 31, 2017.
| Buildings |
$118,496 |
| Accounts receivable |
14,112 |
| Prepaid insurance |
3,584 |
| Cash |
13,261 |
| Equipment |
92,288 |
| Land |
68,544 |
| Insurance expense |
874 |
| Depreciation expense |
5,936 |
| Interest expense |
2,912 |
| Common stock |
67,200 |
| Retained earnings (January 1, 2017) |
44,801 |
| Accumulated depreciation-buildings |
51,072 |
| Accounts payable |
10,640 |
| Notes payable |
104,832 |
| Accumulated depreciation-equipment |
20,966 |
| Interest payable |
4,032 |
| Service revenue |
16,464 |
Prepare a classified balance sheet. Assume that $15,232 of the note payable will be paid in 2018. (List current assets in order of liquidity and property plant and equipment in order of land, buildings and equipment.)
what is the retained earnings