Rogers Corporation starts the year with a Retained Earnings balance of $55,000. Net income for the year

Question:

Rogers starts the year with a Retained Earnings balance of $55,000. Net income for the year is $27,000. The ending balance in Retained Earnings is $70,000. What was the amount of dividends for the year?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...