Next, solve for the addition to retained earnings for FY22Addition to retained earnings is

$659,299

.\ Net Income - Dividends\

=$1,159,299-$500,000

\

=$659,299

\ Correct Answer:\ 659,299\ Great, you've finalized what their FY22 income statement is projected to look like!\ Next, let's move to the balance sheet.\ What is FY22 accounts receivable expected to be?\ Materials on the right have been updated \ Enter a response then click Submit below\

$0

\ Submit\ \\\\table[[,FY21,,FY21,FY22],[Current Assets,,Current Liabilities,,],[Cash,

$644,234

,Accounts Payable,

$944,234

,],[Accounts Receivable,

$694,234

,Notes Payable,

$1,388,468

,],[Inventory,

$925,645

,\\\\table[[Total Current],[Liabilities]],

$2,332,702

,],[Total Current Assets,

$2,264,113

,\\\\table[[Long-Term Debt],[EFN]],

$3,100,000

,],[Fixed Assets],[\\\\table[[],[Equipment]],

$8,628,225

,Shareholder Equity,,],[,Common Stock,

$600,000

,],[,Retained Earnings,

$4,859,636

,],[,Total Equity,

$5,459,636

,],[Total Assets,

$10,892,338

,\\\\table[[],[Equity]],

$10,892,338

,]]

Addition to retained earnings is $659,299. NetIncomeDividends=$1,159,299$500,000=$659,299 Great, you've finalized what their FY22 income statement is projected to look like