FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Calculation of Net Income earned During the Year
Net Income Earned = (Ending Balance of Retained Earnings – Beginning Balance of Retained Earnings) + Dividends declared during the period
Net Income Earned = - $ 1.50 million + $ 4.40 million
Net Income Earned = $ 2.90 million
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