Question

The accountant for TI Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year $163,000 Cash dividends declared for the year 50,800 Net income for the year 98,000 What is the ending balance for retained earnings?a. $261,000.
b. $14,200.
c. $210,200.
d. $282,000.
e. $112,200.

Answer 1

Answer:

$210,200

Explanation:

The retained earning at the beginning of the year is $163,000

The cash dividend is $50,800

The net income is $98,000

Therefore the ending balance for retained earning can be calculated as follows

= 163,000+98,000-50,800

= 261,000-50800

= 210,200

Hence the ending balance for retainerd earnings is $210,200