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    kand58's Avatar
    kand58 Posts: 1, Reputation: 1
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    #1

    May 26, 2010, 07:30 PM
    What was the net income of jefferson motors for this year
    At the end of last year, jefferson motors had 100,000 shares of common stock with a balance of 185,000, retained earnings of $710,000 and total stockholders equity of 895,000. This year, jefferson paid a dividend of 55,000 and its end-of-year retained earnings were 780,000. What was the net income of jefferson motors for this year?
    Clough's Avatar
    Clough Posts: 26,677, Reputation: 1649
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    #2

    May 26, 2010, 09:10 PM
    Quote Originally Posted by kand58 View Post
    at the end of last year, jefferson motors had 100,000 shares of common stock with a balance of 185,000, retained earnings of $710,000 and total stockholders equity of 895,000. this year, jefferson paid a dividend of 55,000 and its end-of-year retained earnings were 780,000. what was the net income of jefferson motors for this year?
    Hi, kand58!

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    If the former is true, please click on the following link to read the announcement there.

    https://www.askmehelpdesk.com/financ...-b-u-font.html

    Thanks!
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #3

    May 27, 2010, 02:42 AM

    Retained earnings:

    Beginning Balance
    + Net Income
    - Dividends
    = Ending Balance

    Those are the only things affecting retained earnings. Plug in and solve.
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