What are estimated retained earnings at the end of next year

Reference no: EM131971009

Question: To estimate Missed Places Inc.'s (MP) external financing needs, the CFO needs to figure out how much equity her firm will have at the end of next year. At the end of the most recent fiscal year, MP's retained earnings were $158,000. The Controller has estimated that over the next year, gross profits will be $360,700, earnings after tax will total $25,000, and MP will pay $11,500 in dividends. What are the estimated retained earnings at the end of next year?

Reference no: EM131971009

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