Harrison recyclers company uses the indirect method to prepare its statement of cash flows. Refer to...
Harrison recyclers company uses the indirect method to prepare its statement of cash flows. Refer to the following information for 2017:
1. Retained earnings, beginning balance, $125000
2. Retained earnings, ending balance, $117000
3. There is a net loss of $8000 for the year.
What is the amount of dividends declared during the year?
Homework Answers
Ending retained earnings
= Beginning retained earnings - Net loss - Dividends declared
117,000 = 125,000 - 8,000 - Dividends declared
117,000 = 117,000 - Dividends declared
Dividends declared = 0
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