Brief Exercise 1-5 (Exercise 3) Calculate the Retained Earnings
Brief Exercise 1-5 (Exercise 3) Calculate the Retained Earnings Question: At the beginning of the year, a company has retained earnings of $175,000. During the year, the company generates $110,000 of net income and distributes $10,000 in dividends.Retained earnings = profits that are retained in the businessDividends= profits distributed to the ownersNet income = Net income (NI) is a company’s total earnings (or profit)Retained earnings = cumulative net income cumulative dividendsCalculate the companys retained earnings at year end:$________________ = retained earnings at year end
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