Tutor profile: Juan M.
What is the value of the retained earnings account of a firm that has a 3-year history and had the following results and corporate transactions? Year 1 net income 10,000. Year 2 net income 25,000. Year 3 net income 30,000. A common stock dividend of 1,000 was declared and paid in Year 3 and secondary equity raise was completed in Year 3 for 50,000.
Retained earnings value is $64,000.
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