Company A had beginning retained earnings of $24,600. During the year the company reported sales of $105,700

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Company A had beginning retained earnings of $24,600. During the year the company reported sales of $105,700 cost of $78,300, depreciation of $9,000, Dividends of $1,200 and interest paid of $635. The tax rate is 30%.

What is the retained earnings balance at the end of the year?

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Cornerstones of Financial and Managerial Accounting

ISBN: 978-0324787351

1st Edition

Authors: Rich Jones, Mowen, Hansen, Heitger

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Posted Date: Jan 19, 2023 06:49 AM

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Company A had beginning retained earnings of $24,600. During the year the company reported sales of $105,700

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Calculation of net Income for the year The formula for calculating the Net Income is Net Income Sale... View the full answer

Cornerstones of Financial and Managerial Accounting

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