1) On the Statement of Retained Earnings where does the Beg Balance of RE come from?2) Also regarding this financial statement, what is the purpose and reason for adding Net Income to the Beg Bal of RE?

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 20MC: Which of the following is a measurement of earnings that represents the profit before interest,...
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1) On the Statement of Retained Earnings where does the Beg Balance of RE come from?
2) Also regarding this financial statement, what is the purpose and reason for adding Net Income to the Beg Bal of RE?

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