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    luvloyal's Avatar
    luvloyal Posts: 1, Reputation: 1
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    May 10, 2007, 09:13 AM
    Edgemont Corporation Retained Earnings
    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.
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    May 10, 2007, 09:57 AM
    What do YOU think the answer is?
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    May 14, 2007, 03:25 AM
    Quote Originally Posted by luvloyal
    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.
    $355,000
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