the end of the year, retained earnings totaled $1,700. During the year, net
income was $250, and dividends of $120 were declared and paid. Retained
earnings at the beginning of the year totaled
Sep 7th, 2014
Ending retained earnings = Beginning retained earnings + Net income - dividends
1700 = Beginning retained earnings + 250 - 120
Beginning retained earnings = 1700-250+120
Beginning retained earnings = 1570
Kindly Bested my answer.
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