simpson enterprise began 2003 with retained earnings of 1,000,000.during 2003 the firm earned 400,000after taxes.from the amount,preffered stockholders were paid 47,000in dividendsand common stockholders were paid200,000.at the year end 2003the firm retained earnings totaled=

1,000,000
+ 400,000
- 47,000
-200,000
=
1,153,000