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Prepare a statement of retained earnings for the month

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Reference no: EM132843795

Problem - Statement of Retained Earnings - Ace Corporation has been in business for many years. Retained earnings on January 1, 2016, is $235,800. The following information is available for the first two months of 2016:

 

January

February

Revenue

$83,000

$96,000

Expenses

89,000

82,000

Dividend paid

0

5,000

Required - Prepare a statement of retained earnings for the month ended February 29, 2016.

Reference no: EM132843795

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