Part III. Retained Earnings Statement Suppose that AAA had account balances as follows 100 000 30 000 50 000 5 000 1 000 1 000 1 000 30 000 1 000 Net Sales Cost of Goods Sold Selling Expenses 3 Administrative Expenses Interest Revenue 0 Interest Expense Loss on sale of equipment 2 Retained Earnings (previous accounting period) 4 6 Based on the above information, how much is current year's Net Income? 3 Dividends (current accouting period) 7 38 39 40 41 Based on the above information, how much is current year's Retained Eamings? 42 s 30,000 43