retained earnings at year end $57000, If the amount of the retained earnings at the beginning of the year is $30,000 and dividends are $12,000
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retained earnings at the beginning of the year + net income - divideds = retained earnings at year end
$30,000+net income - 12000 =57000
net income +30,000-12000 =57000
net income+18000 =57000
net income = 57000-18000 = $39,000
beginningAssets 28,000Liabilities 15,000
Assets 30,000Liabilities 17,300
During the year
Sales Revenue ?Expenses 8,500Dividends 3,000
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