May Builders has a beginning retained earnings balance of $310,500. For the year, the company earned a net income of $18,200 and paid dividends of $11,500. The company also issued $30,000 worth of new stock. What is the value of the retained earnings account at the end of the year?

May Builders has a beginning retained earnings balance of $310,500. For the year, the company earned a net income of $18,200 and paid dividends of $11,500. The company also issued $30,000 worth of new stock. What is the value of the retained earnings account at the end of the year?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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Question

What is the value of the retained earnings account at the end of the year

May Builders has a beginning retained earnings
balance of $310,500. For the year, the
company earned a net income of $18,200 and
paid dividends of $11,500. The company also
issued $30,000 worth of new stock.
What is the value of the retained earnings
account at the end of the year?

Definition Definition Remaining net income of the company after the required dividends are paid to shareholders. This surplus money is usually invested back into the business to expand its business operations or launch a new product.

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