Homework Answers
Retained Earnings (RE) are the portion of a business’s profits that are not distributed as dividends to shareholders but instead are reserved for reinvestment back into the business. Normally, these funds are used for working capital and fixed asset purchases (capital expenditures) or allotted for paying off debt obligations.
retained earnings are reported on the balance sheet as the accumulated income from the prior year (including the current year's income), minus dividends paid to shareholders.
Balance Sheet
Assets
Cash= $25,000
Accounts Recieveable= $ 46,000
Inventory= $33,000
Property Plant & EQP = $69,000
Total Assets= $1,73,000
Liablities
Account Payable= $22,000
Long Term Debt= $41,000
Total Liablites= $63,000
Share Holded Equity=1,07,000
Total Liablities except Reatined earning=(1,07,000+63,000)=$1,70,000
Retained Earning+Assets-Total Liablities except earning
Reatained Earning= $1,73,000-$1,70,000=$3,000(C)
C Answer is correct
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