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Acme Company Balance Sheet As of January 5,2023 (amounts in thousands) ...

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Accounting

Acme Company
Balance Sheet
As of January 5,2023
(amounts in thousands)
Cash 9,700 Accounts Payable 1,500
Accounts Receivable 4,500 Debt 2,900
Inventory 3,800 Other Liabilities 800
Property Plant & Equipment 16,400 Total Liabilities 5,200
Other Assets 1,700 Paid-In Capital 7,300
Retained Earnings 23,600
Total Equity 30,900
Total Assets 36,100 Total Liabilities & Equity 36,100
Update the balance sheet above to reflect the transactions below, which occur on January 6,2023
1. Sell product for $20,000 with historical cost of $16,000
What is the final amount in Retained Earnings?

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