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?