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May 23, 2015

Homework Help: accounting

Posted by A.W. on Wednesday, June 10, 2009 at 5:30pm.

Did I do any of this right and how do I figure Retain earnings (where does net income and dividends come from?
Cash .05($1,150,000) = $57,500
Accounts Receivable .15($1,150,000) = $172,500
Inventory .25($1,150,000) = $287,500
Fixed Assets .40($1,150,000) = $ 460,000
Total Assets $977,500
Liabilities + Owners’ Equity
Accounts Payable .15($1,150,000) = $172,500
Accruals .10($1,150,000) = $115,000
Notes Payable $12,000,000
Long-Term Bonds $ 5,000,000
Common Stock $10,000,000
This is where I run into a snag where is the Net Income and Dividends come from?
Retain Earnings $33,000,000 + Net Income – Dividends

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