Larson Company ends its recent year of operations with $3,500,000 in retained earnings.During the year Larson's net income exceeded its dividend declarations by $200,000.Larson's dividend declarations were $25,000 greater than the dividend payments.
How much was Larson Company's beginning retained earnings?

Question

Quizplus · Accepted Answer

The Answer of Larson Company ends its recent year of operations with $3,500,000 in retained earnings.During the year Larson's net income exceeded its dividend declarations by $200,000.Larson's dividend declarations were $25,000 greater than the dividend payments.
How much was Larson Company's beginning retained earnings?

Larson Company Ends Its Recent Year of Operations with $3,500,000