At December 31, 2018, Landy Products has cash of $24,000, receivables of $18,000, and inventory of $80,000. The company’s equipment totals $182,000. Landy owes accounts payable of $22,000 and long-term notes payable of $172,000. Common stock is $34,500. Prepare Landy’s balance sheet at December 31, 2018, complete with its proper heading. Use the accounting equation to compute retained earnings.

Select the correct answer. ramon applied to the state university in the city where he lives, but he was denied admission. what should he do now? a.change his mind about graduating and drop out of high school so he can start working right away. b. decide not to go to college, because he didn’t have a backup plan. c.stay positive and write a mean letter to let the college know that they made a bad decision. d. learn from this opportunity, reevaluate his options, and apply to his second and third choices.