Homework Answers
SOLUTION
ANSWER TO THE PROBLEM IS - A credit balance of $ 38,000
Net income =$135,000-$87000=$ 48,000
Retained earning balance = Net income -Dividends
= $ 38000-$ 10000= $ 38,000
Retained earnings represents profits hence Credit balances .
Purchase of equipments are capital expenditure nothing to do with retained earnings .
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