Answer :
Final answer:
The total assets of Andrews Company for the next year must be $138,526,276.
Explanation:
To calculate the total assets of Andrews Company for the next year, we need to use the equation: Total Assets = Total Liabilities + Equity.
From the given information, we know that the total liabilities are $141,131,673 and the equity consists of common stock and retained earnings. The common stock is $13,308,000 and the retained earnings are -$15,913,397.
Using the equation, we can calculate the total assets as follows:
Total Assets = $141,131,673 + ($13,308,000 + (-$15,913,397))
Simplifying the equation, we get:
Total Assets = $141,131,673 - $2,605,397
Total Assets = $138,526,276
Therefore, the total assets of Andrews Company for the next year must be $138,526,276.
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