AAA Inc. has a March 31 year end. Retained earnings at March 31, 2022, had a credit balance of $65,000. During the 2023 fiscal year, net income was $21,000 and dividends of $12,000 were declared and paid. During the 2024 fiscal year, AAA had a net loss of $8,500 and dividends of $2,000 were declared but not yet paid. What are the retained earnings for AAA Inc. as at March 31, 2024?

Answer rating: 100% (QA)

To calculate the retained earnings for AAA Inc as of March 31 2024 we need to consider the chan... View the full answer