David's had a retained earnings balance at the end of last year of $220,000. The ﬁrm had $63,000 in earnings this year and $120,000 in capital spending. David's maintains a debt-equity ratio of 2.2
And strictly adheres to a residual dividend policy. What is the retained earnings balance at the end
Of this year?

Question

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The Answer of David's had a retained earnings balance at the end of last year of $220,000. The ﬁrm had $63,000 in earnings this year and $120,000 in capital spending. David's maintains a debt-equity ratio of 2.2
And strictly adheres to a residual dividend policy. What is the retained earnings balance at the end
Of this year?

David's Had a Retained Earnings Balance at the End of Last