Last year Builtrite had retained earnings of $140,000. This year, Builtrite had true net profits after taxes of $65,000 which includes common stock dividends received of $10,000, and also paid a preferred dividend of $35,000. What is Builtrite'snew level of retained earnings?

Answer rating: 100% (QA)

The closingnew level of retained earnings for Builtrite is 170000 as calculated using ... View the full answer