Hi,

im doing a practice exam for accounting 1 and in this chart im having trouble filling the middle part. idk how to calculate the dividends with the limited info provided. (in this example its a new company so the beginning retained income for 2020 is $0)

2 AA- AaBbCel AaBbce AaBbc I Normal 1 No Spac. Heading HO Font Paragraph Styles Income Statements for the Years Ending December 31, 20XX: 2022 2021 2020 Revenues Services to customers $250,000 $240,000 $220,000 Expenses Wages S $169,300 $166,400 Interest 9.500 9.000 178,300 8,300 Net Income $ 61,700 $ 45,300 Statements of Retained Earnings for the Years Ending December 31, 20XX: 2022 2021 2020 Beginning Retained $ $ $ 0 Earnings Net Income 61,700 45,300 Subtotal $157,000 $ 45,300 Dividends 25,000 Ending Retained Earnings $132,000 s $ Balance sheets as of December 31, 20XX: 2022 2021 2020 Assets Cash Accounts Receivable Land Total Assets Liabilities Interest Payable Loan Payable $175,000 108,000 250,000 $533,000 $141,000 75,000 250,000 S466,000 $145,300 80,300 250.000 $475.600 $ 2.500 $ 2.000 160,000 S 2.300 190,000 00 2 AA- AaBbCel AaBbce AaBbc I Normal 1 No Spac. Heading HO Font Paragraph Styles Income Statements for the Years Ending December 31, 20XX: 2022 2021 2020 Revenues Services to customers $250,000 $240,000 $220,000 Expenses Wages S $169,300 $166,400 Interest 9.500 9.000 178,300 8,300 Net Income $ 61,700 $ 45,300 Statements of Retained Earnings for the Years Ending December 31, 20XX: 2022 2021 2020 Beginning Retained $ $ $ 0 Earnings Net Income 61,700 45,300 Subtotal $157,000 $ 45,300 Dividends 25,000 Ending Retained Earnings $132,000 s $ Balance sheets as of December 31, 20XX: 2022 2021 2020 Assets Cash Accounts Receivable Land Total Assets Liabilities Interest Payable Loan Payable $175,000 108,000 250,000 $533,000 $141,000 75,000 250,000 S466,000 $145,300 80,300 250.000 $475.600 $ 2.500 $ 2.000 160,000 S 2.300 190,000 00