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21-12-2019
Business

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The accountant for TI Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:
Retained earnings balance at the beginning of the year $151,000
Cash dividends declared for the year 46,000
Net income for the year 92,000
What is the ending balance for retained earnings?

Respuesta :

Dryomys Dryomys

21-12-2019

Answer:

$197,000

Explanation:

Given that,

Retained earnings balance at the beginning of the year = $151,000

Cash dividends declared for the year = $46,000

Net income for the year = $92,000

Ending balance for retained earnings:

= Opening balance + Profit earned during the year - Cash dividends declared for the year

= $151,000 + $92,000 - $46,000

= $197,000

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