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    mariafig2's Avatar
    mariafig2 Posts: 1, Reputation: 1
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    #1

    Feb 28, 2007, 01:37 PM
    Retained Earnings Computations
    During 2006, Edgemont Corporation had revenues of $230,000 and expenses, including income taxes of $190,000. On December 31, 2005, Edgemont had assets of $350,000, liabilities of $80,000 and capital stock of $210,000. Edgemont paid a cash dividend of $25,000 in 2006. No additional stock was issued. Compute the retained earnings on December 31, 2005, and 2006
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Feb 28, 2007, 08:57 PM
    What do YOU think the answer is?

    Post what YOU think the answer is and show your work, and we will look it over for you.
    candyland's Avatar
    candyland Posts: 2, Reputation: 1
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    #3

    Mar 28, 2007, 06:07 PM
    During 2006, Edgemont Corporation had revenues of $230,000 and expenses, including income taxes, of $190,000. On December 31, 2005, Edgemont had assets of $350,000, liabilities of $80,000, and capital stock of $210,000. Edgemont paid a cash dividend of $25,000 in 2006. No additional stock was issued. Compute the retained earnings on December 31, 2005, and 2006.

    This was a tough question for me to answer.
    candyland's Avatar
    candyland Posts: 2, Reputation: 1
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    #4

    Mar 28, 2007, 06:29 PM
    $230,000
    +350,000
    -80,000
    -210,000
    -25,000
    = $265,000
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