Answer:
Stock = 27.629 million
Explanation:
Baldwin Corporation
Balance Sheets
Assets
Cash of $8.040 million
Total Assets $163.111 million
Liabilities and Owner's Equity $163.111 million
Stock 27.629 million
Total Liabilities $101.255 million
Retained Earnings $34.226 million
According to Balance sheet approach total assets must equal total liabilities and Owner's Equity.
Total assets including cash are given which are equal to $163.111 million and when we subtract total liabilities and retained earning from it we get the value of stock.
Stock = Total Assets- Total Liabilities - Retained Earnings
Stock = $163.111 million - $101.255 million-$34.226 million
Stock = 27.629 million
