Yana owns a small business selling e-sports accessories. Her balance sheet at the end of last year

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Yana owns a small business selling e-sports accessories. Her balance sheet at the end of last year showed retained earnings of $11,230. The following facts relate to Yana's activities this year.

Yana declared and paid a dividend of $1,030.
Yana issued 40 new shares of stock. Investors paid $30 per share.
Yana earned net income of $40,682

What dollar value of retained earnings should Yana report on her balance sheet at the end of this year?

Related Book For answer-question

Financial Reporting Financial Statement Analysis and Valuation a strategic perspective

ISBN: 978-1337614689

9th edition

Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

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Posted Date: Apr 23, 2024 05:17 AM

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Yana owns a small business selling e-sports accessories. Her balance sheet at the end of last year

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Answer We can calculate the ending retained earnings for Yanas business using t... View the full answer

Financial Reporting Financial Statement Analysis and Valuation a strategic perspective

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