Question
Your firm posted the following results for the years 2039 and 2040 (yes, quite a few years from now). What amount will appear for Retained
Your firm posted the following results for the years 2039 and 2040 (yes, quite a few years from now). What amount will appear for Retained Earnings on your firm's balance sheet as of year-end 2040? Note that some items might not be needed. Answer to the nearest dollar. Do not include the $ sign in your answer.
Cost of Goods Sold for 2040 314,000 Current Assets as of 2040 year-end 207,000 Depreciation for 2040 52,000 Dividends to shareholders for 2040 27,000 Inventory as of 2039 year-end 60,000 Inventory as of 2040 year-end 77,000 Net Income for 2039 66,000 Net Income for 2040 121,000 Retained Earnings as of 2039 year-end 610,000 Sales for 2039 851,000 Sales for 2040 890,000 Taxes (% of taxable income) 28% Total Assets as of 2040 year-end 971,000
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