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The Big Company's following financial information related to its retained earnings for the year ended December 31, 2020 . (All dollar amounts in thousands.) Retained
The Big Company's following financial information related to its retained earnings for the year ended December 31, 2020. (All dollar amounts in thousands.)
- Retained earnings balance as of January 1, 2020: $33,190
- Net sales for year 2020: $7,302
- Net income for year 2020: $1,460
- Dividends paid to shareholders in year 2020: $168
For year 2021, net income is forecasted to be $1,494. Use the information above to forecast the following amounts for year (2021).
a. | What is the forecasted amount of dividends paid to shareholders in year 2021? | |
b. | What is the forecasted ending balance of retained earnings as of December 31, 2021? |
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