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The Andrews company currently has the following balances in their equity accounts: Common Stock $12,079 Retained earnings $90,369 Suppose next year the Andrews company generates $46,300 in Net Profit, and declares and pays $16,000 in Dividends. What will Andrews ending balance in Retained Earnings be next year

Respuesta :

Zviko

Answer:

$120,669

Explanation:

Ending Retained Earnings = Opening Retained Earning + Net Income - Dividends

therefore,

Ending Retained Earnings =  $90,369 +  $46,300 - $16,000 = $120,669

thus,

Ending balance in Retained Earnings be next year will be  $120,669

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