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Q 5.28: S&S Cycle Shop is preparing its pro-forma financial statements for 2015. The pro-forma income statement shows a net loss of $9,862. Total assets
Q 5.28: S&S Cycle Shop is preparing its pro-forma financial statements for 2015. The pro-forma income statement shows a net loss of $9,862. Total assets on the pro-forma balance sheet are $864,398. Current liabilities are $75,678. Beginning retained earnings is $577,533. S&S paid no dividends. Calculate the retained earnings balance at December 31, 2015. A $601,855 B $567,671 C $587,395 D $653,211
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