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Retained earnings, December 31, 2021 Cost of buildings purchased during 2022 Net loss for the year ended December 31, 2022 Dividends declared and paid in 2022 Increase in cash balance from January 1, 2022 to December 31, 2022 Increase in long-term debt in 2022 Required: From the above data, calculate the retained earnings balance as of December 31, 2022. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. Answer is complete but not entirely correct. Statement of Stockholders' Equity (Partial) For Year Ended December 31, 2022 Retained earnings, December 31, 2021 Less: Dividends Less: Net loss Retained earnings, December 31, 2022 $ 453,400 104,500 13,700 28,300 16,100 38,900 $ 453,400 (467,100) X (28,300) X $ 411,400

Retained earnings, December 31, 2021 Cost of buildings purchased during 2022 Net loss for the year ended December 31, 2022 Dividends declared and paid in 2022 Increase in cash balance from January 1, 2022 to December 31, 2022 Increase in long-term debt in 2022 Required: From the above data, calculate the retained earnings balance as of December 31, 2022. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. Answer is complete but not entirely correct. Statement of Stockholders' Equity (Partial) For Year Ended December 31, 2022 Retained earnings, December 31, 2021 Less: Dividends Less: Net loss Retained earnings, December 31, 2022 $ 453,400 104,500 13,700 28,300 16,100 38,900 $ 453,400 (467,100) X (28,300) X $ 411,400

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Having a hard time figuring out net loss and Dividends, please help

Retained earnings, December 31, 2021 Cost of buildings purchased during 2022 Net loss for the year ended December 31, 2022 Dividends declared and paid in 2022 Increase in cash balance from January 1, 2022 to December 31, 2022 Increase in long-term debt in 2022 Required: From the above data, calculate the retained earnings balance as of December 31, 2022. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. Answer is complete but not entirely correct. Statement of Stockholders' Equity (Partial) For Year Ended December 31, 2022 Retained earnings, December 31, 2021 Less: Dividends Less: Net loss Retained earnings, December 31, 2022 $ 453,400 104,500 13,700 28,300 16,100 38,900 $ 453,400 (467,100) ► (28,300) X $ 411,400
Transcribed Image Text:Retained earnings, December 31, 2021 Cost of buildings purchased during 2022 Net loss for the year ended December 31, 2022 Dividends declared and paid in 2022 Increase in cash balance from January 1, 2022 to December 31, 2022 Increase in long-term debt in 2022 Required: From the above data, calculate the retained earnings balance as of December 31, 2022. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. Answer is complete but not entirely correct. Statement of Stockholders' Equity (Partial) For Year Ended December 31, 2022 Retained earnings, December 31, 2021 Less: Dividends Less: Net loss Retained earnings, December 31, 2022 $ 453,400 104,500 13,700 28,300 16,100 38,900 $ 453,400 (467,100) ► (28,300) X $ 411,400
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It seems that these two are wrong? It is not -13700 and -28300

Less: Net loss for the year ended December 31, 2022  
Less: Dividends declared and paid in 2022
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