Question: For the 2 0 2 2 year, Olaf Industries reported shareholder equity of $ 5 0 0 , 0 0 0 . 0 0 .

For the 2022 year, Olaf Industries reported shareholder equity of $500,000.00. In 2023, Olaf did not issue any new shares and reported net income of $150,000.00. Olaf has decided to pay out 20.00% of their net income as dividends and put the remainder in retained earnings. What will be the new value for shareholder equity in 2023?

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