Answers
Retained earnings December 31 2018= $480,500
Working
Retained earnings, December 31 2019 | $ 5,25,750.00 |
Less: Net income for 2019 | $ 56,500.00 |
$ 4,69,250.00 | |
Add: Dividends for 2019 | $ 11,250.00 |
Retained earnings, December 31 2019 | $ 4,80,500.00 |
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