PLEASE HELP ASAP! 10 POINTS!!
1 answer:
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Answer:
$30,000.
Step-by-step explanation:
Wave Corporation began the current year with a retained earnings balance of $25,000.
Depreciation expense was of $5000
During the current year, the company earned net income of $15,000
Also gave cash dividends of $5,000.
So, year end retained earnings will be :
Year end retained balance = total net income minus net losses and dividends.
dollars
The answer is $30,000.