Find net income and retained earnings

Assignment Help Financial Accounting

Reference no: EM1312699

Calculation of Net Income & Retained Earnings.

Calculate

1)net income

2)Retained earnings based on the information below. Be sure to show all work and label each answer clearly.

Sales	200,000
Cash	50,000
Total Liabilities	430,000
Operating Expenses	135,000
Common stock	20,000
Beginning retained earnings	500,000
Dividends paid	25,000

Reference no: EM1312699

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