Business, 12.03.2020 21:20 photagraphykid
The accountant for Crusoe Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:
Retained earnings balance at the beginning of the year $ 131,500
Cash dividends declared for the year 51,500
Proceeds from the sale of equipment 86,500
Gain on the sale of equipment 8,100
Cash dividends payable at the beginning of the year 23,500
Cash dividends payable at the end of the year 26,600
Net income for the year 97,500
What is the ending balance for retained earnings?A. $207,500.B. $177,500.C. $287,000.D. $185,000.E. $259,000.
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