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Oriole Company compiled the following financial information as of December 31, 2022: Service revenue $849000 Common stock 196000 Equipment 254000 Operating expenses 734000 Cash 216000 Dividends 57000 Supplies 34000 Accounts payable 115000 Accounts receivable 87000 Retained earnings, 1/1/22 432000 Oriole's retained earnings on December 31, 2022 are:

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hyderali230

Answer:

Oriole's retained earnings on December is $337,000

Explanation:

December 31, 2022:

Service revenue $849000

Operating expenses $734000

Asset

Equipment                        $254000

Cash                                  $216000

Accounts receivable        $87000

Supplies                            $34000

Total Assets                      $591,000

Equity and Liabilities

Common stock                 $196000

Retained Earning             $337,000

Less: Dividends                $57000

Accounts payable            $115000

Total Equity & Liabilities  $591,000

Oriole's retained earnings on December 31, 2022 = $591,000 - 115,000 - 196,000 + 57,000 = $337,000

Retained earnings, 1/1/22 $432000

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