ABC Corporation has the following financial information for the year ended 31 December 2022:

Beginning retained earnings: $20,000
Net income: $50,000
Dividends paid: $10,000
Stockholders' equity at the beginning of the year: $150,000
Calculate the ending retained earnings and the return on equity for the year ended 31 December 2022.

Answer rating: 100% (QA)

The detailed answer for the above question is provided below Ending retained earnings Beginning reta... View the full answer