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Lopez Company has Retained Earnings of $11,000 at the end of March, 2020. During the month of April, Lopez has revenues of $72,000 and
Lopez Company has Retained Earnings of $11,000 at the end of March, 2020. During the month of April, Lopez has revenues of $72,000 and total operating expenses of $84,000. Lopez also pays its shareholders dividends of $7,000 on April 1. What is Lopez Ending RE = Beg. RE+NI - Div = Beg. RE+ (Rev - Exp) - Div = 10,000+ (70,00 0-85,000) - 5,000 = (10,000) Company's ending balance of Retained Earnings on April 30?
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