Compute the increase retained earnings

Reference no: EM1355441

Elite Trailer Parks has an operating profit of $200,000. Interest expense for the year was $10,000; preferred dividends paid were $18,750.00 and common dividends paid were $30,000. The tax was $61,250. The firm has 20,000 shares of common stock outstanding.

What was the increase in retained earnings for the year?

Reference no: EM1355441

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