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For the Past Five Years, Mookie Consulting Services Reported the Following

question 29

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For the past five years, Mookie Consulting Services reported the following annual net income and dividend amounts:  Year  Net Income  Dividends 1$22,000$2,000217,0002,00039,0001,000414,0003,000525,0004,000\begin{array} { c c c } \text { Year } & \text { Net Income } & \text { Dividends } \\1 & \$ 22,000 & \$ 2,000 \\2 & 17,000 & 2,000 \\3 & 9,000 & 1,000 \\4 & 14,000 & 3,000 \\5 & 25,000 & 4,000\end{array} If Mookie had Retained Earnings of $88,000 at the end of year 5, what was the company's Retained Earnings at the beginning of Year 1?

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A fresh or novel approach, technique, or fashion in a certain field or activity.

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