Question
A company had a beginning balance in retained earnings of $43,000. It had net income of $6,000 and paid out cash dividends of $5,625
A company had a beginning balance in retained earnings of $43,000. It had net income of $6,000 and paid out cash dividends of $5,625 in the current period. The ending balance in retained earnings equals:
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Koala Tutor
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$43,375
The ending balance in retained earnings is calculated by adding the net income to the beginning balance and then subtracting any dividends paid out. So, $43,000 (beginning balance) + $6,000 (net income) - $5,625 (dividends) = $43,375.
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