Problem 1-75B (Algorithmic) Statements of Retained Earnings The table below presents the statements of retained earnings for Labelle Corporation for 3 successive years. Certain numbers are missing. Required: Use your understanding of the relationship between successive statements of retained earnings to calculate the missing values. Retained earnings, beginning Add: Net income Less: Dividends Retained earnings, ending A 2020 tA 11,100 $30,000 (7,400) 2021 $22,600 A A (5,200) 2022 $27,250 9,500 tA $34,100
Problem 1-75B (Algorithmic) Statements of Retained Earnings The table below presents the statements of retained earnings for Labelle Corporation for 3 successive years. Certain numbers are missing. Required: Use your understanding of the relationship between successive statements of retained earnings to calculate the missing values. Retained earnings, beginning Add: Net income Less: Dividends Retained earnings, ending A 2020 tA 11,100 $30,000 (7,400) 2021 $22,600 A A (5,200) 2022 $27,250 9,500 tA $34,100
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Problem 1-75B (Algorithmic)
Statements of Retained Earnings
The table below presents the statements of retained earnings for Labelle Corporation for 3 successive years. Certain numbers are missing.
Required:
Use your understanding of the relationship between successive statements of retained earnings to calculate the missing values.
Retained earnings, beginning
Add: Net income
Less: Dividends
Retained earnings, ending
A
2020
tA
11,100
$30,000
(7,400)
2021
$22,600
A
A
(5,200)
2022
$27,250
9,500
tA
$34,100
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