Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
Information pertaining to the Hearn Corporation is given below: Dec. 31. 20x3 Dec. 31, 20x2B RE +NI - Dividends E. Total Assets $474815 $435339 Total
Information pertaining to the Hearn Corporation is given below: Dec. 31. 20x3 Dec. 31, 20x2B RE +NI - Dividends E. Total Assets $474815 $435339 Total Liabilities $290387 $ 204569 BRE=ERN-NI + Divide Common Shares $43117 Retained Earnings ? QUI ? .. If during 20x3, $21216 dividends were paid by the corporation and no net income was earned, what is the 20x3 opening retained earnings amount? Select one: a. $ 187653 b. $ 141311 C. $ 120095 x O d. $ 230770 Your answer is incorrect. The correct answer is: $ 187653
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/669e0885cab42_901669e088547f37.jpg)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started