During its first five years of operations, White Consulting reports net income and pays dividends as...
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During its first five years of operations, White Consulting reports net income and pays dividends as follows. Required: Calculate the balance of retained earnings at the end of each year. Note that retained earnings will always equal $0 at the beginning of year 1. Year Net Income Dividends Retained Earnings 1 $ 1,650 $ 590 2 2,150 590 3 3,000 1,450 4 4,100 1,450 5 5,300 1,450 During its first five years of operations, White Consulting reports net income and pays dividends as follows. Required: Calculate the balance of retained earnings at the end of each year. Note that retained earnings will always equal $0 at the beginning of year 1. Year Net Income Dividends Retained Earnings 1 $ 1,650 $ 590 2 2,150 590 3 3,000 1,450 4 4,100 1,450 5 5,300 1,450
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