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Anit [1.1K]
3 years ago
11

The Andrews company currently has the following balances in their equity accounts: Common Stock $12,079 Retained earnings $90,36

9 Suppose next year the Andrews company generates $46,300 in Net Profit, and declares and pays $16,000 in Dividends. What will Andrews ending balance in Retained Earnings be next year
Business
1 answer:
GarryVolchara [31]3 years ago
6 0

Answer:

$120,669

Explanation:

Ending Retained Earnings = Opening Retained Earning + Net Income - Dividends

therefore,

Ending Retained Earnings =  $90,369 +  $46,300 - $16,000 = $120,669

thus,

Ending balance in Retained Earnings be next year will be  $120,669

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