Solution-Retained earnings balance at the end of the year

Retained earnings balance at the end of the year

Reference no: EM131226906

Wholesale Hank's Hardware had beginning retained earnings of $18,670. During the year, the company paid dividends of $2,050, and reported total sales of $203,846. Their tax rate is 35 percent. For the year, costs were $88,763, interest paid was $20,834 and depreciation was $28,556. What is the retained earnings balance at the end of the year?

a. $59,320

b. $21,883

c. $61,370

d. $63,420

e. $30,393

Reference no: EM131226906

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Retained earnings balance at the end of the year

Reference no: EM131226906

Reference no: EM131226906

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