ABC Corporation reported retained earnings of $1,250 on its year-end balance sheet. During the nextyear, the company reported $620 in net income, and in that next year it paid out a dividend of $200.What will retained earnings be at the end of the next year?O $ 1,370O $ 1,050O $ 1,570O $1,470O $1,670

As per available information from question Opening balance of retained earning $1,250 + net…

Answered: year, the company reported $620 in net…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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year, the company reported $620 in net income, and in that next year it paid out a dividend of $200. What will retained earnings be at the end of the next year? O $1,370 O $1.050