Retained earnings for end-of the-quarter balance

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Barb City Travel, Inc. earned $16,500 in net sales this past quarter. Cost of goods sold was 7,100, paid in advertising, salaries, and utilities $3,200, and incurred a depreciation charge of $2,900. It paid $950 in interest and 750 in taxes. a. Generate Barb City Travel’s income statement. Provide Gross Profits, EBIT, and Net Income. b. Calculate dividends if Barb City Travel, Inc.’s dividends pay-out ratio is 40% of net income. c. If last quarter’s total retained earnings amount was $13,500. What is the ending total retained earnings for this end-of the-quarter balance?

Reference no: EM131830239

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