What are the retained earnings in 2007

Reference no: EM13255611

During 2007, ABC had sales of $68,919. Cost of goods sold, administrative expenses and selling expenses, and depreciation expenses were $36,661, $6,410, and $5,936, respectively. In addition, the company had an interest expense of $4,497, and a tax rate of 30%. The company paid$7,842 as dividends. If the retained earnings is 2006 were $50,877, what are the retained earnings in 2007?

Reference no: EM13255611

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