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A firm has a beginning retained earnings balance of 550,000 and an ending of $750,000.The firm has revenue of $450,000 and expenses of $50,000.They are
A firm has a beginning retained earnings balance of 550,000 and an ending of $750,000.The firm has revenue of $450,000 and expenses of $50,000.They are in the 34% tax bracket. Did they pay any dividends and if so how much?
I tried: end balance in retained earning = begin balance in retained + net OP - dividend
750,000 = 550,000 + (450,000 - 50,000) - dividend
750,000 = 950,000 - dividend
but 200,000 marked incorrect, help?
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