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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 $ 126,000 Cash dividends declared for the year 46,000 Proceeds from the sale of equipment 81,000 Gain on the sale of equipment 7,000 Net income for the year 92,000 What is the ending balance for retained earnings

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gauravsingh23VT

Retained earning = Opening retained earning + net income - dividends paid

$ 126,000+ $ 92,000 -  $ 46,000 =  $ 172000 is the ending balance for retained earning.

What is retained earning?

Retained earning is the extra earning after paying all the direct and indirect amount, income taxes and its dividends to shareholders. This profit is to retain profit that the company can use as an equity in the business.

Thus, it is $ 172000.

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