Given the following information about a corporation's current year activities, compute the retained earnings for the current year.
$$\begin{array} { l | l }
\text { Retained earnings, January 1 } & \$ 342,000 \
\hline \text { Cash dividends } & \$ 51,700 \
\hline \text { Stock dividends } & \$ 40,000 \
\hline \text { Net income } & \$ 141,000
\end{array}$$

Question

Given the following information about a corporation's current year activities, compute the retained earnings for the current year.
 $$\begin{array} { l | l } 
\text { Retained earnings, January 1 } & \$ 342,000 \
\hline \text { Cash dividends } & \$ 51,700 \
\hline \text { Stock dividends } & \$ 40,000 \
\hline \text { Net income } & \$ 141,000
\end{array}$$

Quizplus · Accepted Answer

The Answer of Given the following information about a corporation's current year activities, compute the retained earnings for the current year.
 $$\begin{array} { l | l } 
\text { Retained earnings, January 1 } & \$ 342,000 \
\hline \text { Cash dividends } & \$ 51,700 \
\hline \text { Stock dividends } & \$ 40,000 \
\hline \text { Net income } & \$ 141,000
\end{array}$$

Given the Following Information About a Corporation's Current Year Activities