[Tephany]

Inventory 6,500, Depreciation expense 500
Accumulated depreciation 34,000 net sales 12,800
Buildings equipment 122,000 Accounts receivable 9,600
Cost of goods 5,700 accounts payable 4,800
Long term debt 55,000 taxes 1,440
Common stock 45,000 general and administrative expense 850
Cash 16,550 RETAINED Earnings?
Operating system 1,350 MY QUESTION IS HOW YOU CAN GET THE RETAINED EARNINGS TO YOUR BALANCE SHEET? Thank you
Short term notes payable 600
Interest expense 500

[Tephany]

Nventory 6,500, Depreciation expense 500
Accumulated depreciation 34,000 net sales 12,800
Buildings equipment 122,000 Accounts receivable 9,600
Cost of goods 5,700 accounts payable 4,800
Long term debt 55,000 taxes 1,440
Common stock 45,000 general and administrative expense 850
Cash 16,550 RETAINED Earnings?
Operating system 1,350 MY QUESTION IS HOW YOU CAN GET THE RETAINED EARNINGS TO YOUR BALANCE SHEET? Thank you
Short term notes payable 600
Interest expense 500

[morgaine300]

The income statement needs to be done first, then the statement of retained earnings. The net income needs added to RE and dividends subtracted out. So that needs updated before you can put it on the balance sheet.