Question
At year-end 2002, Yung.com had notes payable of $1200, accounts payable of $2400, and long-term debt of $3000. Corresponding entries for 2003 are $1600, $2000,
At year-end 2002, Yung.com had notes payable of $1200, accounts payable of $2400, and long-term debt of $3000. Corresponding entries for 2003 are $1600, $2000, and $2800. Asset values are below. During 2003, Yung.com had sales of $4300, cost of goods sold of $400, depreciation of $100, and interest paid of $150. The (average) tax rate is 21%, and all taxes are paid currently. The company has 100 shares of common stock outstanding at the end of 2003. Total dividends paid were $120 in 2003.
Current Asset | 2002 | 2003 | |||
Cash | $800 | $500 | |||
Marketable securities | 400 | 300 | |||
Accounts receivable | 900 | 800 | |||
Inventory | 1800 | 2000 | |||
Fixed Assets | |||||
Net Fixed Asset (Plant&Equipment) | $6000 | $8000 |
In 2003, the (addition to) Retained Earnings is $______________
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