![Required information [The following information applies to the questions displayed below.] A company had the following assets](http://img.homeworklib.com/questions/05e7d780-1295-11eb-af79-bdcfe4fa4694.png?x-oss-process=image/resize,w_560)
Homework Answers
Total assets=Total liabilities+Total equity
Total equity at beginning=(226,000-94000)=$132,000
Total equity at end=(257,000-77400)=$179600
Total equity at end=Total equity at beginning+Issuance of common stock+Addition to retained earnings
179600=132000+21000+Addition to retained earnings
Addition to retained earnings=179600-132000-21000
=$26600
Addition to retained earnings=Net income-Dividends paid
Net income=26600+6200
=$32800
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