Compute the Missing Amount Affecting Retained Earnings for Year 2

question 51

Short Answer

Compute the missing amount affecting retained earnings for Year 2 in each of the five independent cases that follow.Amounts shown are in millions.
$\begin{array}{llllllr}&\text { CASE A } & \text { CASE B } & \text { CASE C } & \text { CASE D } & \text { CASE E }\\\text { Retained earnings, Dec. 31, } \text { Year 1 } & \$ 95 & \text { B } & \$ 75 & \$ 87 & \$ 175 \\\text { Net income } & 30 & \$ 450 & 45 & \mathbf{D} & (50) \\\text { Dividends declared and paid } & 10 & 120 & \mathbf{C} & 35 & \text { E } \\\text { Retained earnings, Dec. 31, } \text { Year 2 } & \mathbf{A} & 670 & 60 & 105 & 75\end{array}$

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Definitions:

Certificate

Official document attesting a certain fact or achievement.

Laboratory Tests

Medical procedures that involve the examination of bodily fluids or tissues in order to diagnose disease or monitor health.

Incorrect Results

Outcomes that are inaccurate or wrong, often referring to errors in data, experiments, or tests.

Patient Sample

A biological material collected from a patient for testing, diagnosis, or research purposes; it can include blood, tissue, or other bodily fluids.