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What is the ending balance for retained earnings

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Reference no: EM132875330

Problem - The accountant for Crusoe Company is preparing the company's statement of cash flows for the fiscal year just ended. The following Information is available:

Retained earnings balance at the beginning of the year $135,000

Cash dividends declared for the year 55,000

Proceeds from the sale of equipment 90,000

Gain on the sale of equipment 8,800

Cash dividends payable at the beginning of the year 27,000

Cash dividends payable at the end of the year 30,800

Net income for the year 101,000

Required - What is the ending balance for retained earnings?

Reference no: EM132875330

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