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What's the retained earnings end of period based on the information below? Retained earnings beginning of period: 7,500 Net income: 2,300 Dividends paid: 1,700 8,100 7,400 11,500 6,900
What's the retained earnings end of period based on the information below?
-
Retained earnings beginning of period: 7,500
- Net income: 2,300
- Dividends paid: 1,700
8,100
7,400
11,500
6,900
Expert Solution
Answer: a) 8100
Retained earnings is the amount of net income left over for the business after it has paid out dividends to it's shareholders.
From the information given above retained earnings at the end of the period can be calculated as follows:
Retained earnings at end = Retained earnings at beginning + Net income - Dividends paid
= 7500 + 2300 - 1700
= 8100
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