Question
Determination of Retained Earnings and Net Income The following information appears in the records of Bock Corporation at the end of 2015: Accounts Receivable $25,000
Determination of Retained Earnings and Net Income The following information appears in the records of Bock Corporation at the end of 2015: Accounts Receivable $25,000 Retained Earnings ? Accounts Payable 11,000 Supplies $9,000 Cash 8,000 Equipment 138,000 Common Stock 115,000 a. Calculate the amount of retained earnings at the end of 2015. b. Using your answer from part a, if the amount of the retained earnings at the beginning of 2015 was $30,000 and dividends were paid in the amount of $19,000 during 2015, what was the company's net income for 2015? a. Retained Earnings Balance at year-end 2015 $Answer b. Net Income for 2015 $Answer Sent from Mail for Windows 10
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