# How do i find the retained earnings? What is the formula to find retained earnings? What is the retained earnings? Accounts payable $5,000 Notes payable$ 7,000 Accounts receivable 2,000 Rent expense 10,000 Advertising expense 4,000 Retained earnings? Cash 3,100 Service revenue 25,000 Common stock 15,000 Supplies 1,900 Dividends 2,500 Supplies expense 1,700 Equipment 26,800 Net Income 9,300

How do i find the retained earnings? What is the formula to find retained earnings? What is the retained earnings?
Accounts payable $5,000 Notes payable$ 7,000
Accounts receivable 2,000 Rent expense 10,000
Cash 3,100 Service revenue 25,000
Common stock 15,000 Supplies 1,900
Dividends 2,500 Supplies expense 1,700
Equipment 26,800 Net Income 9,300
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frisiao
INCOME STATEMENT
SERVICE REVENUE = 25000
LESS:-RENT EXPENSE = (10000)
LESS:-SUPPLIES EXPENSE = (1700)
PROFIT = 9300
LESS:DIVIDEND PAID = (2500)
PROFIT TRANSFERRED TO RETAINED EARNINGS = 6800
RETAINED EARNINGS ARE THE UNDISTRIBUTED PROFIT OF THE COMPANY FOR A FINANCIAL YEAR THAT IS RE-INVESTED IN THE COMPANY .
ONE MORE WAY TO FIND RETAINED EARNINGS:-
BALANCE SHEET
ASSETS = ACCOUNTS RECIEVABLE + CASH + SUPPLIES + EQIPMENT
$=2000+3100+1900+26800$
$=33800$
ASSETS = LIABILITIES
LIABILITIES = ACCOUNT PAYABLE + NOTES PAYABLE + COMMON STOCK + RETAINED EARNIGS

RETAINED EARNINGS = 6800