Answer only. Required information[The following information.applies to the questions displayed below.]At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts:BalanceAccountCashAccounts receivableAccounts payableCommon stockRetained earnings$27,50018,00013,20019,10013,200The following events apply to Oak Consulting for Year 2:1. Provided $71,700 of services on account.2. Incurred $3,400 of operating expenses on account.3. Collected $46,200 of accounts receivable.4. Paid $30,100 cash for salaries expense.5. Paid $14,940 cash as a partial payment on accounts payable.6. Paid a $9,400 cash dividend to the stockholders. eivable.4. Paid $30,100 cash for salaries expense.5. Paid $14,940 cash as a partial payment on accounts payable.6. Paid a $9,400 cash dividend to the stockholders.e. What is the amount of change in retained earnings for the year?Change in retained earnings

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e. What is the amount of change in retained earnings for the year? Change in retained earnings

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter2: Basic Accounting Systems: Cash Basis

Section: Chapter Questions

Problem 2.14E

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eivable.
4. Paid $30,100 cash for salaries expense.
5. Paid $14,940 cash as a partial payment on accounts payable.
6. Paid a $9,400 cash dividend to the stockholders.
e. What is the amount of change in retained earnings for the year?
Change in retained earnings

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