Ametek, Inc., reported a cash balance of ($ 73) million and a retained earnings balance of ($

Question:

Ametek, Inc., reported a cash balance of \(\$ 73\) million and a retained earnings balance of \(\$ 162.5\) million. Explain how Ametek can have so much more retained earnings than cash. In your answer, identify the nature of retained earnings and state how it ties to cash.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Financial Accounting

ISBN: 9780133118209

2nd Edition

Authors: Charles T. Horngren, Jr. Harrison, Walter T.

Question Posted: