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Prausck company had retained earnings of $96,000 and stockholders' equity of $ 120,000 at the beginning of 20X1. During 20X1, the company had a net
Prausck company had retained earnings of $96,000 and stockholders' equity of $ 120,000 at the beginning of 20X1. During 20X1, the company had a net income of $35,000, declared and paid cash dividends of $12,000 and had other comprehensive income of $15,000. The company neither issued nor bought back shares in that year. Compute the ending retained earnings and total stockholders equity at the end of 20X1
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