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    Tsuki's Avatar
    Tsuki Posts: 2, Reputation: 1
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    #1

    Jul 11, 2010, 07:42 AM
    Retained Earnings
    Beginning Retained Earnings $217,000
    Plus: Net Income ?
    Less: Dividends 56,000
    Ending Retained Earnings $231,000

    $217,000+X-$56,000=$231,000
    -217,000 +56,000 -161,000
    X=$70,000

    So 'X' or Net Income= $70,000
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Jul 16, 2010, 12:55 AM

    This is correct.

    But please next time start your own thread for your question rather than tagging onto someone else's old one. I've moved yours into its own thread.
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