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Key Relations: Revenues, Expenses, Dividends, and Retained Earnings Compute the missing amounts in the following table. At the end of 2012, retained earnings had a
Key Relations: Revenues, Expenses, Dividends, and Retained Earnings Compute the missing amounts in the following table. At the end of 2012, retained earnings had a balance of negative $2,086. Round to one decimal place. (Hint: Dividends reduce the retained earnings account.) 2010 2011 2012 Retained earnings (beginning) $(2,853.0) $(1,846.5) 4,890.5 Revenues $(2,030.5) 5,377.0 5,678.0 5,475.0 Expenses Dividends 0 17.5 Calculate expenses as a percentage of revenues for the three years. Round your answer to the nearest whole percentage (ex: 83%). 2010 2011 2012 % % 89 % Calculate net income as a percentage of revenues for the three years. Round your answer to the nearest whole percentage (ex: 83%). Use negative signs with answers when appropriate. 2010 2011 2012 % (6) % 13 %
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