Homework Answers
Based on the information available in the question, we can answer as follows:-
The Retained earnings reported on the balance would be after the consideration of the dividends paid, revenues, expenses for the year.
Per the question , we understand that the retained earnings at year end amounts to $82,000.
The Dividends paid during the year amounted to $30,000.
Net Income during the year = $82,000 + $30,000
Net Income during the year = $112,000
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