s Powered by Bb eCampus ePortfolios Community Content Collection HW Assignment 1 enu Determining Retained Earnings and Net Income The following information appears in the records of Bock Corporation at year- end: Accounts Receivable $28,000 Retained Earnings Accounts Payable 12,000 Supplies Cash Common Stock $? 8,000 7,000 Equipment, net 145,000 115,000 a. Calculate the balance in Retained Earnings at year-end. b. If the amount of the retained earnings at the beginning of the year was $38,000 and $13,000 in dividends is paid during the year, calculate net income for the year

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How do I find retained earnings without the net income? I am attaching the homework problem with the information given in the problem

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HW Assignment 1
enu
Determining Retained Earnings and Net Income
The following information appears in the records of Bock Corporation at year-
end:
Accounts Receivable $28,000 Retained Earnings
Accounts Payable 12,000 Supplies
Cash
Common Stock
$?
8,000
7,000 Equipment, net 145,000
115,000
a. Calculate the balance in Retained Earnings at year-end.
b. If the amount of the retained earnings at the beginning of the year was
$38,000 and $13,000 in dividends is paid during the year, calculate net income
for the year

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s Powered by Bb eCampus ePortfolios Community Content Collection HW Assignment 1 enu Determining Retained Earnings and Net Income The following information appears in the records of Bock Corporation at year- end: Accounts Receivable $28,000 Retained Earnings Accounts Payable 12,000 Supplies Cash Common Stock $? 8,000 7,000 Equipment, net 145,000 115,000 a. Calculate the balance in Retained Earnings at year-end. b. If the amount of the retained earnings at the beginning of the year was $38,000 and $13,000 in dividends is paid during the year, calculate net income for the year

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