Brent had retained earnings of $109,000 and total stockholders' equity of $125,000 at the beginning of 20X1. During 20X1 the company had a net income of $18,000, declared and paid cash dividends of $18,000, and had other comprehensive income of $17,000. Brent Company neither issued nor bought back shares in 20X1. Compute the retained earnings and total stockholders’ equity at the end of 20X1.

Answer rating: 100% (QA)

Breant Company Retained Earnings Beginning 109000 Total Stockholders Equity Beginning 125000 ... View the full answer