A list of Year 3 revenues and expenses for Green Thumb,Inc.is provided below.

Required:
Part a.Calculate the net income for the Green Thumb,Inc.for Year 3.
Part b.Prepare a statement of retained earnings for Green Thumb,Inc.for Year 3.Assume the company had retained earnings of $162,000 as of January 1,Year 3,and paid out $46,000 in dividends during Year 3.

Question

A list of Year 3 revenues and expenses for Green Thumb,Inc.is provided below.
  
Required:
Part a.Calculate the net income for the Green Thumb,Inc.for Year 3.
Part b.Prepare a statement of retained earnings for Green Thumb,Inc.for Year 3.Assume the company had retained earnings of $162,000 as of January 1,Year 3,and paid out $46,000 in dividends during Year 3.

Quizplus · Accepted Answer

The Answer of A list of Year 3 revenues and expenses for Green Thumb,Inc.is provided below.
  
Required:
Part a.Calculate the net income for the Green Thumb,Inc.for Year 3.
Part b.Prepare a statement of retained earnings for Green Thumb,Inc.for Year 3.Assume the company had retained earnings of $162,000 as of January 1,Year 3,and paid out $46,000 in dividends during Year 3.

A List of Year 3 Revenues and Expenses for Green