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What is magtelkoms net income for year 12

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Reference no: EM132409504

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Magtelkom reported the following balance sheet information for Year 11 and Year 12. Magtelkom applies IFRS and reports in millions of Hungarian forints (HUF). Magtelkom Balance Sheet Data Year 11 and Year 12

Year 12 Year 11

Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . HUF1,135,578 HUF1,131,595

Total Liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 553,885 538,428

Contributed Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 129,954 128,728

Minority Interest. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66,695 67,128

Retained Earnings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 385,044 ???

During Year 12, Magtelkom declared and paid dividends of HUF72,729 million and made other adjustments, which increased retained earnings by HUF307 million.

a. What is Magtelkom's balance in Retained Earnings for Year 11.

b. What is Magtelkom's net income for Year 12.

Reference no: EM132409504

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