Redding Industrial Supply had common shares of $6,800 and retained earnings of $4,925 at the beginning of the year. At the end of the year, the balance in common shares is $7,000 and the balance in the retained earnings account is $5,498. The net income for the year is $938.

What is the retention rate?

Answer rating: 100% (QA)

Answer 6109 Explanation For computing the retention ratio we need to do the following calculatio... View the full answer