SuperSuper Shop had a retained earnings balance of $ 1 comma 000$1,000 on DecemberDecember 31, 2010. For year 2011, sales were $ 14 comma 000$14,000 and expenses were $ 7 comma 500$7,500. Cash dividends of $ 1 comma 000$1,000 were declared and distributed on DecemberDecember 31, 2011. What was the amount of retained earnings on DecemberDecember 31, 2011? Calculate the retained earnings. Begin by selecting the formula, then enter the amounts and calculate the retained earnings at December.

Answer rating: 100% (QA)

retained earnings balance as at 311220101000 net i... View the full answer