At the end of 2020, a fast-growing advertising agency had a negative balance of $596 million in
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At the end of 2020, a fast-growing advertising agency had a negative balance of $596 million in its retained earnings account. Compute the missing amounts in the following table, and comment on the company's performance. Specifically, analyze the company's sales growth, profits, profits as a percentage of sales, and dividends declared as a percentage of net income (dollars in millions).
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2020 2019 2018 Beginning retained earnings $ (758) $ (523) $ (499) Revenues for the period ? 1,522 1,383 Expenses for the period 1,550 1,608 ? Dividends declared 5
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