Department M had 2,000 units 40% completed in process at the beginning of June, 12,000 units completed during June, and 1,200 un
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Answer: $700,000
Explanation: Retained earnings is the amount of earnings left with the company after paying for dividends of common stockholders.
Retained earnings break even can be computed as follows :-
where,
retained earnings = net income (1- payout ratio)
= $525,000 (1 - 60%)
= $210,000
therefore,
=$700,000