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What is the total change in retained earningsforOscar Corporation? Prior to closing the accounts, the bookkeeper gathered the following information from the financial records and
What is the total change in retained earningsforOscar Corporation?
Prior to closing the accounts, the bookkeeper gathered the following information from the financial records and the trial balance:
- Cash$44,749
- Accounts Receivable$24,689
- Inventory$8,532
- Property, Plant and Equipment$193,168
- Accumulated Depreciation$47,154
- Accounts Payable$13,124
- Salaries and Wages Payable$1,060
- Notes Payable$53,077
- Common Stock$22,191
- Retained Earnings$XXX
- Sales Revenue$70,923
- Misc Revenue$26
- Cost of Goods Sold$30,087
- Depreciation Expense$2,318
- Salaries and Wages Expense$1,866
- General & Administrative Expenses$589
- Utilities Expense$430
- Interest Expense$397
- Income Tax Rate = 15%
- Dividends declared and paid, $657
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