Question
Below is a table showing Revenues and Expenses, and Dividends declared and paid during the years 2016 - 2020 for AllTheColoursOfYou, Inc. Assume the balance
Below is a table showing Revenues and Expenses, and Dividends declared and paid during the years 2016 - 2020 for AllTheColoursOfYou, Inc. Assume the balance of Retained Earnings as of 1/1/2016 was $192,055:
Year | Revenues | Expenses | Dividends |
2016 | $712,450 | $754,090 | $0 |
2017 | $807,320 | $799,110 | $200 |
2018 | $874,205 | $833,555 | $320 |
2019 | $797,025 | $840,320 | $0 |
2020 | $932,630 | $881,045 | $195 |
Calculate the balance of Retained Earnings as of the end of 2019.
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Retained Earnings balance as of January 1 2016 192055 2016 Net Income Revenues Expenses 712450 75409...
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Financial Reporting Financial Statement Analysis And Valuation A Strategic Perspective
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
9th Edition
1337614689, 1337614688, 9781337668262, 978-1337614689
