Homework Answers
Answer
Retained Earnings, 2019 = Retained Earnings, 2018 + Net Income –
Dividend
$12,565 = $8,787 + $4,141 – Dividend
Dividend = $363
Change in Retained Earnings = Retained Earnings, 2019 - Retained
Earnings, 2018
Change in Retained Earnings = $12,565 - $8,787
Change in Retained Earnings = $3,778
The Change in Retained Earnings is $3,778, but the Net income earned during the year is $4,141. The difference in Change in Retained Earnings and Net Income is due to dividend declared /paid.
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