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Salt Co. had a balance in retained earnings of $38,750 at the end of 2016. During 2017, the company declared $21,000 of dividends and paid $14,250 of...
Salt Co. had a balance in retained earnings of $38,750 at the end of 2016. During 2017,
the company declared $21,000 of dividends and paid $14,250 of previously declared
(2016) dividends. If the company had retained earnings of $45,900 after closing the
accounting records for 2017, then how much net income did Salt Co. generate in 2017?
I Forget where to put dividends in the Stockholders Equity Section? I know it goes
Common Stock
Additional Paid in Capital
Accumulated Other Comp Income
Less Treasury stock
I just have NO idea how to get Net Income from the given information?
