Student $10$

Name

Firm $x$ in had a retained earnings balance of $$700$ at the beginning of $2022$ and $100$ outstanding shares. During $2022,$ the company earned $$500$ as gross profit. Its total operating expense was $100.$ Also it payed $25\%$ on taxes and had interest expense of $$40.$

a$.$ Prepare an income statement for Alyn for the year ended $2022.$

b$.$ Find how much were Aly's earnings per share.

c$.$ What was the retained earnings balance at the end of $2022.$