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2021 2020 120 120 Issued Share Capital Net Income Accumulated Retained Earnings 22.6 28.3 13.2 The retention ratio for the company earnings has remained constant

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2021 2020 120 120 Issued Share Capital Net Income Accumulated Retained Earnings 22.6 28.3 13.2 The retention ratio for the company earnings has remained constant at 55% while the rest is given out as dividends to shareholders. Given the above data, the 2021 total retained earnings balance is (please give your answer with three digits after decimal point): 2021 2020 120 120 Issued Share Capital Net Income Accumulated Retained Earnings 22.6 28.3 13.2 The retention ratio for the company earnings has remained constant at 55% while the rest is given out as dividends to shareholders. Given the above data, the 2021 total retained earnings balance is (please give your answer with three digits after decimal point)

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