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Dove Corporation, a calendar-year C corporation, had the following information for 2019:
Net income per books (after-tax) $386,250
Taxable income 120,000
Federal income tax per books 25,200
Cash dividend distributions 150,000
Un-appropriated retained earnings, as of January 1, 2019 796,010
Based on the above, Dove's unappropriated retained earnings balance as of December 31, 2016, is:______.

Respuesta :

Tundexi

Answer:

$1,032,260

Explanation:

Dove's unappropriated retained earnings balance as of December 31, 2016 = Unappropriated retained earnings balance on January 1, 2016 + Net income - Dividends distributions.

= 796,010 + 386,250 - 150,000.

= $1,032,260

Unappropriated retained earnings balance of Dove corporation as on December 31, 2016 is $1,032,260

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