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Retained Earnings Balance

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A company has the following information:

2007 retained earnings balance of $12 billion
Net income of $3.5 billion in 2008
Capex of $200 million in 2008
Preferred dividends of $100 million in 2008
Common dividends of $400 million in 2008

What is the retained earnings balance at the end of 2008?

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Solution Summary

This solution calculates the retained earnings balance at the end of 2008.

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The 2007 retained earnings balance is $12 billion + net income of $3.5 billion = $15.5 billion minus ...

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