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What is the addition to retained earnings

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Q1- The Toy Store has beginning retained earnings of $28,975. For the year, the company earned net income of $4,680 and paid dividends of $1,600. The company also issued $3,000 worth of new stock. What is the value of the retained earnings account at the end of the year?

A. $20,445 B. $22,695 C. $27,375 D. $32,055 E. $35,255

Q2- Blasco Printing has net income of $26,310 for the year. At the beginning of the year, the firm had common stock of $35,000, paid-in surplus of $11,200, and retained earnings of $48,420. At the end of the year, the firm had total equity of $142,430. The firm does not pay dividends. What is the amount of the net new equity raised during the year?

A. $18,000 B. $21,500 C. $32,700 D. $48,900 E. $48,310

Q3- Gallagher's Supply has sales of $387,000 and costs of $294,500. The depreciation expense is $43,800. Interest paid equals $18,200 and dividends paid equal $6,500. The tax rate is 35 percent. What is the addition to retained earnings?

A. $10,775 B. $11,460 C. $13,120 D. $13,325 E. $15,450

Reference no: EM132996124

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