The accountant for Robinson 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……………….$156,000

Cash dividends declared for the year………………………………............….$ 46,000

Proceeds from the sale of equipment…………………………………............$ 81,000

Gain on the sale of equipment………………………………………….................$ 7,000

Cash dividends payable at the beginning of the year…………………....$ 18,000

Cash dividends payable at the end of the year……………………….........$ 40,000

Net income for the year……………………………………………….....................$ 92,000

What is the ending balance for retained earnings?

Answer rating: 100% (QA)

The ending balance in retained earnings is Retained earni... View the full answer