Homework Answers
| WORKING NOTES: | |||
| CALCULATION OF NET EARNING OF WIRELESS CORPORATION | |||
| Revenue during the year = | $540 | Million | |
| Less: Expenses during the year | $330 | Million | |
| Net Earnings | $210 | Million | |
| SOLUTION: | WIRELESS CORPORATION | ||
| STATEMENT OF RETAINED EARNINGS | |||
| AS ON DECEMBER 31, 2018 | |||
| Beginning Balance of Retained earnings as on Jan 01,2018 | $220 | Million | |
| Add: Net Earnings of the year | $210 | Million | |
| Total | $430 | Million | |
| Less: Dividend Declared /Paid during the year | $57 | Million | |
| Ending balance of retained earnings as on Dec 31, 2018 | $373 | Million | |
| Answer = $ 373 Million | |||
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