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I need to find: A) the ending balance in Retained Earnings as of Dec 31, Year 4 B) The beginning balance in Retained Earnings as
I need to find:
A) the ending balance in Retained Earnings as of Dec 31, Year 4
B) The beginning balance in Retained Earnings as of Jan 1st, Year 4
Current Assets $900,000
Current Liabilities $400,000
Fixed Assets, Net $600,000
Investments $100,000
Long-Term Debt $500,00
Dividends Declared on Common Stock during the Year $50,000
Income Summary (income) $225,000
Retained Earnings, January 1, Year 4-?
Common Stock $150,000
Premium on Common Stock $250,000
Thank you for your help
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