Accounting for Managers: Prat Corp started 2018 w/ $34K cash, $14K liabilities, $9K stock

[IDildy]

I need help setting this problem up and solving it... I am lost!

 

[mmm4444bot]

Where do you first get stuck? For example, are there any words that you don't understand? Have you worked with percentages before?

Please also read the forum's submission guidelines. Thank you!

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[IDildy]

I am not sure how to divide all the numbers up into the correct categories. Creditor, Investors, Earnings... (from my understanding I should be subtracting the liabilities and common stock from the assets) but I am able to check my answer before submitting.... So I assume I am making an error with where I am categorizing the numbers.

 

[mmm4444bot]

… I assume I am making an error with where I am categorizing the numbers …

So, you have made a start.

Again, from the forum's submission guidelines:

3. Show work you've already tried (even if you think it's wrong), and try to explain why you're stuck.

Simply posting an exercise statement without showing work or asking specific questions is not enough for us to help you quickly. As tutors, we need clues about parts you already understand versus what you find confusing, so we can determine where to begin helping you. The sooner you show efforts, the sooner we can get to the heart of the matter.
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[IDildy]

OK I got the initial retained earning as 11000... under the assumption I'd be subtracting the liabilities and common stock from the total assets by answers came out to 11.63 27.74 60.63 does that help you see what I am doing wrong??