Retained Earnings
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Please provide steps to calculate the retained earnings in 2010 using the following information:
Retained earnings: 841, 200
Decrease in total 183, 200
liabilities:
Gain on sale of building: 64, 400
Dividends declared and
pd. in 2010: 18, 000
Proceeds from sale of
common stock 197, 600
Net Income 90, 400
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Solution Summary
The solution explains the calculation of ending retained earnings.
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Ending retained earnings for 2010 = beginning retained earnings + net income - ...
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