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Exercise 1-4? Retained Earnings Statement   At the end of 2018,Sherwood Company had retained earnings of $18,240.During 2019, Sherwood had revenues of $837,400 and expenses of $792,100,and paid cash dividends in the amount of $38,650.   Required :   1.Determine the amount of Sherwood's retained eamhlgs at December 31,2019.   2.CONCEPTUAL CONNECTION Comment on Sherwood's dividend policy.

Question

Exercise 1-4? Retained Earnings Statement

 

At the end of 2018,Sherwood Company had retained earnings of $18,240.During 2019, Sherwood had revenues of $837,400 and expenses of $792,100,and paid cash dividends in the amount of $38,650.

 

Required :

 

1.Determine the amount of Sherwood's retained eamhlgs at December 31,2019.

 

2.CONCEPTUAL CONNECTION Comment on

Sherwood's dividend policy.

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