Compute the following items for the statement of cash flows: 1. The beginning and ending Retained Earnings
Question:
1. The beginning and ending Retained Earnings balances are $29,000 and $80,000, respectively. Net income for the period is $62,000. How much are cash dividends?
2. The beginning and ending Fixed Assets, Net, balances are $101 ,000 and $110,000, respectively. Depreciation expense for the period is $16,000, and acquisitions of new fixed assets total $42,000. Fixed assets were sold at a $3,000 gain. What were the cash proceeds of the sale?
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1 Retained Earnings Dividends declared Beginning balance 29000 Net income 62000 Ending ...View the full answer
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