Nash's Trading Post, LLC started the year with $44400 in its Common Stock account and a...
Nash's Trading Post, LLC started the year with $44400 in its Common Stock account and a credit balance in Retained Earnings of $32600. During the year, the company earned net income of $35500 and declared and paid $14800 of dividends. In addition, the company sold additional common stock amounting to $20700. As a result, the amount of its retained earnings at the end of the year would be
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$97700. |
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$53300. |
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$118400. |
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$74000. |
Homework Answers
Ending retained earnings = Beginning retained earnings + net income - dividends paid
= 32600 + 35500 - 14800
= 53300
Option B is the answer
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