how do you find retained earnings when.
retained earnings, 245,200
net decrease in total assets, 37,400
net increase in A.R. 8,600
dividends declared and paid 33,600
proceeds from issuance of bonds 88,400
net loss for the year ended 23,00
To find the ending retained earnings, you need to start with the beginning retained earnings and consider the relevant changes during the year. The formula to calculate ending retained earnings is:
Ending Retained Earnings = Beginning Retained Earnings + Net Income/Loss - Dividends
To find the beginning retained earnings, you need additional information like the previous year's ending retained earnings. However, in the given question, the beginning retained earnings are not provided. So, we cannot directly calculate the ending retained earnings.
However, we can calculate the net income or net loss for the year. In this case, the net loss for the year is given as $23,000.
To calculate the net income/loss, you need to consider all the revenue and expenses for the year. Unfortunately, the question does not provide this information, so we cannot calculate the exact net income/loss.
In summary, without the beginning retained earnings and the net income/loss, we cannot directly calculate the ending retained earnings.