Increase in Retained Earnings
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Elite Trailer Parks has an operating profit of $200,000. Interest expense for the year was $10,000; preferred dividends paid were $18,750.00 and common dividends paid were $30,000. The tax was $61,250. The firm has 20,000 shares of common stock outstanding.
What was the increase in retained earnings for the year?
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Solution Summary
The solution explains how to calculate the increase in retained earnings for the year.
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The increase in retained earnings = Net Income - Dividends
We calculate the net ...
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