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Wirefree Corporation began 2021 with retained earnings of $250 million. Revenues during the year were $490 million, and expenses totaled $360 million. Wirefree declared
Wirefree Corporation began 2021 with retained earnings of $250 million. Revenues during the year were $490 million, and expenses totaled $360 million. Wirefree declared dividends of $63 million. What was the company's ending balance of retained earnings? To answer this question, prepare Wirefree's statement of retained earnings for the year ended December 31, 2021, complete with its proper heading. Prepare the statement of retained earnings. (Enter all amounts in millions. Enter a net loss with a minus sign or parentheses. Include a subtotal after the "Add" line of the statement.) Add: Subtotal Less: Income Statement (millions)
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