If I am given retained earnings and a cash dividend amount for a given period how do I calculate the net income? Also, if I am given the revenues for the same information how do I calculate the expenses incurred?

If retained earnings increased by $350,000 and a cash dividend was paid out of 135,000 what was net income for the year? Andrevenues were $830,000 what was where the Expenses for the year?

Retained Earnings Beginning Balance
+ Net Income
- Dividends Declared
= Ending balance

Net Income = Revenues - Expenses

Those are the only things affecting retained earnings, and they're expecting you to do a little backwards math and solve for the missing numbers.

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