5 The accountant for Huckleberry Company is preparing the co

5 The accountant for Huckleberry 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 $167,008 Cash dividends declared for the year Net incone for the year 52,480 180,000 What is the ending balance for retained earnings? $288,000 $14.600 S267000 $214,600 5114.600 ^ 1/25/20

Solution

Ending balance of retained earnings = Beginning balance of retained earnings + Net income - cash dividend declared

= $167,000 + $100,000 - $52,400

= $214,600

Hence, the ending balance of retained earnings is $214,600.