Crawford company started the year with 15000 in its common

Reference no: EM13579328

Crawford Company started the year with $15,000 in its Common Stock account and a credit balance in Retained Earnings of $6,000.

During the year, the company earned net income of $12,000 and declared and paid $5,000 of dividends.

The company also sold additional common stock amounting to $7,000.
As a result of these transactions - the amount of the retained earnings account abalance the end of the year would be?

Reference no: EM13579328

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