FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Year One
Assets $50,000
Liabilities $25,000
Stock $10,000
Suppose in year two the company plans to grow assets by 42%, liabilities are limited to 30% of assets, expected net income is $10,851, and dividends are $1,161. What is the projected total for retained earnings in year two?
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