Determining Retained Earnings and Net Income The following information appears in the records of Uones Corporation at year-end: Accounts Receivable $40,000 Retained Earnings 19,000 Supplies $27,000 Accounts Payable Cash 17,000 Equipment, net 108,000 Common Stock 120,000 a. Calculate the balance in Retained Earnings at year-end. b. If the amount of the retained earnings at the beginning of the year was $60,000 and dividends were paid in the amount of $25,000 calculate Net Income (Loss) for the year. Check