Question 11

Alpha's Company's Fiscal Year 2017 Statement of Cash Flows reflected information that cash provided by operating activities was $800,000. The Fiscal Year 12/31/17 Balance Sheet showed the value of Retained Earnings to be $625,000. The following additional information was provided:

Depreciation Expense

$380,000

Common Stock Dividends

200,000

Accounts Receivable increase

110,000

Accounts Payable increase

60,000

Use this information and determine Alpha Company's:

a. the Net Income (Net Loss) the 2017 Fiscal Year.

b. the beginning balance for Retained Earnings

PLEASE SHOW CALCULATIONS