Question
Lindas Lights balance sheet info for the beginning of 2020: Owners Equity 27 million Bank Loan 10 million, 4.5% interest rate Fixed Assets 10 million
Lindas Lights balance sheet info for the beginning of 2020: Owners Equity 27 million Bank Loan 10 million, 4.5% interest rate Fixed Assets 10 million Inventory 23 million Cash 4 million Here are info for 2020: Purchased 220 thousand lamps for $100 each, sold them for $125 each Incurred additional operating costs of $2 million Purchased 5 trucks for $100,000 each Profits tax 15% Dividend payout ratio 30% Q: What are Retained Earnings? Please fill in this box using the result of the previous question 9, these two questions are the same. Note: Please round up your answer to two decimal places (e.g., if your answer is 170.124 -> you need to write down 170.12 in the blank if your answer is 170.127 -> you need to write down 170.13 in the blank)
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