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Question - On January 1, 2017, Zuniga Corporation had retained earnings of $550,000. During the year, Zuniga had the following selected transactions.
1. Declared cash dividends $140,000.
2. Corrected overstatement of 2016 net income because of depreciation error $50,000.
3. Earned net income $350,000.
4. Declared stock dividends $60,000.
Instructions - Prepare a retained earnings statement for the year.
Two mortgage options are available: a 30-year fixed-rate loan at 6% with no discount points, and a 30-year fixed-rate loan at 5.75% with points. If you are planning on living in the house for 12 years, what is the most you are willing to pay in po..
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