Universal Corp has beginning retained earnings of 80000 cash

Universal Corp. has beginning retained earnings of 80,000$, cash flows from operating activities during the current year of 35,000$, dividends paid during the year of $5000, net income for the current year of $50,000, and common Stock at the end of the year of $15,000

Solution

Retained Earnings, Beginning Balance      80,000.00 Add: Net Income      50,000.00 Sub-total    130,000.00 Less: Dividend Paid      (5,000.00) Retained Earnings, Ending Balance    125,000.00