German
01.01.2020 15:40
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Am nevoie de un răspuns acum ! Va rog

Am nevoie de un răspuns acum ! Va rog
Am nevoie de un răspuns acum ! Va rog
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Mw3spartan17
Mw3spartan17
4,6(93 marks)
Hola yo no soy Germán pero te puedo ayudar con tu tarea como sea que pueda
ashleyfay6350
ashleyfay6350
4,4(14 marks)

Calculation of amount of net income (net loss):

The amount of net income (net loss) can be calculated using the formula of retained earnings.

Retained earnings ending balance = Retained earnings beginning balance + net Income – Dividends


We are given that:

Retained earnings ending balance =$439,500

Retained earnings beginning balance= $432,800

Dividends = $20,200

Let’s say Net Income = X

Hence,

Retained earnings ending balance = Retained earnings beginning balance + net Income – Dividends

439500 = 432800+X-20200

439500 = 412600+X

X = 439500-412600 = 26,900


Hence, the Net Income reported by Jasper in the year 2017 is $26,900

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