Question
Laurier Inc. had retained earnings at the beginning of the year of $19000. During the year Laurier Inc. declared dividends of $100000. At the end of the year, Laurier Inc. had retained earnings of $ 3600000. What was the amount of net earnings that Laurier Inc. earned during the year?
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Answer to a math question Laurier Inc. had retained earnings at the beginning of the year of $19000. During the year Laurier Inc. declared dividends of $100000. At the end of the year, Laurier Inc. had retained earnings of $ 3600000. What was the amount of net earnings that Laurier Inc. earned during the year?
Murray
4.565 Answers
To calculate the amount of net earnings that Laurier Inc. earned during the year, we can use the following formula:
Net Earnings = Retained Earnings at the beginning of the year + Net Income - Dividends
Given:
Retained Earnings at the beginning of the year = $19,000
Dividends declared during the year = $100,000
Retained Earnings at the end of the year = $3,600,000
We need to find the Net Income.
Using the formula:
$19,000 + Net Income - $100,000 = $3,600,000
Net Income = $3,600,000 - $19,000 + $100,000
Net Income = $3,681,000
Therefore, Laurier Inc. earned $3,681,000 in net earnings during the year.
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