Ted's Taco Shop has total assets of $5 million. Fifty percent of these assets are...
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Finance
Ted's Taco Shop has total assets of $5 million. Fifty percent of these assets are financed with debt of which $500,000 is current liabilities. The firm has no preferred stock but the balance in common stock is $1 million. Using this information what is the balance for retained earnings on Ted's Taco Shop's balance sheet?
| A. | $1.5 million | |
| B. | $3 million | |
| C. | $2 million | |
| D. | $1 million |
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