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On January 1,2014, ALG Company had total assets of $125000 and total liabilitties of $65000. On December 31, ALG's total assets were $175000 and total
On January 1,2014, ALG Company had total assets of $125000 and total liabilitties of $65000. On December 31, ALG's total assets were $175000 and total liabilities were $55000. During 2014, ALG issued common stock of $25000, paid dividends of $8000, and incurred expenses of $32000. What was the increase in retained earnings during 2014?
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