Bonita Industries began the year 2022 with retained earnings of $651000. During the year, the company sold additional shares ofstock for $1008000, recorded revenues of $571000, expenses of $384000, and paid dividends of $137000. What was Bonita'sretained earnings balance at the end of 2022?O $701000O $975000O $571000O $1085000

Computation of ending retained earning balance Beginning balance = 651,000 Add Net…

Answered: nings balance at the end of 2022? D00…

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nings balance at the end of 2022? D00 D00

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 18P

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What is the retained earnings balance ending December 31, 2021?
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