Acme Company Balance Sheet
As of January 5, 2019
(amounts in thousands)
Cash 14,300 Accounts Payable 1,900
Accounts Receivable 4,100 Debt 3,200
Inventory 5,800 Other Liabilities 4,000
Property Plant & Equipment 14,800 Total Liabilities 9,100
Other Assets 700 Paid-In Capital 7,700
Retained Earnings 22,900
Total Equity 30,600
Total Assets 39,700 Total Liabilities & Equity 39,700
Update the balance sheet above to reflect the transactions below, which occur on January 6, 2019
1. Sell product for $20,000 with historical cost of $16,000
2. Sell product for $30,000 with historical cost of $24,000
3. Sell product for $35,000 with historical cost of $28,000
What is the final amount in Retained Earnings?