KS Company has the following year-end account balances (before closing); all balances are normal: Sales $728,900;...

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KS Company has the following year-end account balances (before closing); all balances are normal: Sales $728,900; Interest Re

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Answer 1

Answer #1

Retained Earnings = Beginning Retained Earnings +Net income- Divided

Net income = Sales+ Interest Revenue -cost of goods sold - operating expenses

= 728900+ 13500 -556000-189000= (2600)

Retained Earnings= Beginning retained earnings - Net loss - divided= 20000-2600-12000= 5400

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Answer 2

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