From the Data Given Below, Calculate the Retained Earnings Balance

question 43

Essay

From the data given below, calculate the Retained Earnings balance of December 31, 2013. $$\begin{array} { l r } \text { Retained earnings, December 31, } 2014 & \$ 115,000 \\\text { Increase in total liabilities during 2014 } & 33,000 \\\text { Gain on the sale of buildings during 2014 } & 14,000 \\\text { Dividends declared and paid in 2014 } & 9,000 \\\text { Proceeds from sale of common stock in 2014 } & 32,000 \\\text { Net income for the year ended December 31, 2014 } & 41,000\end{array}$$ Prepare the retained earning portion of a statement of changes in stockholders' equity for the year ended December 31, 2014. $\begin{array}{llcc} \text {Retained earnings, December 31,2013 } &\$?\\ \text { Add: Net income for the year } &41,000\\ \text { Less: Dividends for the year } &\underline{(9,000)}\\ \text {Retained earnings, December 31,2014 } &\underline{\underline{\$115,000}}\\\end{array}$

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Definitions:

Ulipristal Acetate (UPA-EC)

A medication used for emergency contraception to prevent pregnancy after unprotected sex or failure of other birth control methods.

Adoption Services

Organizations or agencies that facilitate the placement of children into permanent homes with adoptive families, providing support and legal services.

Artificial Insemination

A medical procedure that involves directly inserting sperm into a woman's cervix, fallopian tubes, or uterus to achieve pregnancy without sexual intercourse.

Miscarriage

is the spontaneous loss of a pregnancy before the fetus is viable outside the womb, typically before 20 weeks of gestation.