below is information related to retained earnings for five independent situations. calculate the answer to…

below is information related to retained earnings for five independent situations. calculate the answer to each.\n1. a company reports an increase in retained earnings of $3,020 and net income of $4,630. what is the amount of dividends?\n2. a company reports beginning retained earnings of $1,840, net income of $1,370, and $150 dividends. what is the amount of ending retained earnings?\n3. a company reports an increase in retained earnings of $1,510 and dividends of $2,200. what is the amount of net income?\n4. a company reports ending retained earnings of $2,700, net income of $1,160, and dividends of $470. what is the amount of beginning retained earnings?\n5. a company reports an increase in retained earnings of $750 and net income of $1,400. what is the amount of dividends?\ncomplete this question by entering your answers in the tabs below.\nrequired 1 required 2 required 3 required 4 required 5\na company reports an increase in retained earnings of $3,020 and net income of $4,630. what is the amount of dividends?

below is information related to retained earnings for five independent situations. calculate the answer to each.\n1. a company reports an increase in retained earnings of $3,020 and net income of $4,630. what is the amount of dividends?\n2. a company reports beginning retained earnings of $1,840, net income of $1,370, and $150 dividends. what is the amount of ending retained earnings?\n3. a company reports an increase in retained earnings of $1,510 and dividends of $2,200. what is the amount of net income?\n4. a company reports ending retained earnings of $2,700, net income of $1,160, and dividends of $470. what is the amount of beginning retained earnings?\n5. a company reports an increase in retained earnings of $750 and net income of $1,400. what is the amount of dividends?\ncomplete this question by entering your answers in the tabs below.\nrequired 1 required 2 required 3 required 4 required 5\na company reports an increase in retained earnings of $3,020 and net income of $4,630. what is the amount of dividends?

Answer

Explanation:

Step1: Recall the formula for change in retained earnings

The formula is $\text{Change in Retained Earnings}=\text{Net Income}-\text{Dividends}$.

Required 1:

Step1: Rearrange the formula to find dividends

Given $\text{Change in Retained Earnings} = 3020$ and $\text{Net Income}=4630$. Rearranging the formula $\text{Dividends}=\text{Net Income}-\text{Change in Retained Earnings}$. $\text{Dividends}=4630 - 3020$

Step2: Calculate the value of dividends

$\text{Dividends}=1610$

Required 2:

Step1: Recall the formula for ending retained earnings

The formula is $\text{Ending Retained Earnings}=\text{Beginning Retained Earnings}+\text{Net Income}-\text{Dividends}$. Given $\text{Beginning Retained Earnings}=1840$, $\text{Net Income}=1370$ and $\text{Dividends}=150$. $\text{Ending Retained Earnings}=1840 + 1370-150$

Step2: Calculate the value of ending retained earnings

$\text{Ending Retained Earnings}=3060$

Required 3:

Step1: Rearrange the formula for change in retained earnings to find net - income

Given $\text{Change in Retained Earnings}=1510$ and $\text{Dividends}=2200$. From $\text{Change in Retained Earnings}=\text{Net Income}-\text{Dividends}$, we can get $\text{Net Income}=\text{Change in Retained Earnings}+\text{Dividends}$. $\text{Net Income}=1510+2200$

Step2: Calculate the value of net income

$\text{Net Income}=3710$

Required 4:

Step1: Rearrange the formula for ending retained earnings to find beginning retained earnings

Given $\text{Ending Retained Earnings}=2700$, $\text{Net Income}=1160$ and $\text{Dividends}=470$. From $\text{Ending Retained Earnings}=\text{Beginning Retained Earnings}+\text{Net Income}-\text{Dividends}$, we can get $\text{Beginning Retained Earnings}=\text{Ending Retained Earnings}-\text{Net Income}+\text{Dividends}$. $\text{Beginning Retained Earnings}=2700-1160 + 470$

Step2: Calculate the value of beginning retained earnings

$\text{Beginning Retained Earnings}=2010$

Required 5:

Step1: Rearrange the formula for change in retained earnings to find dividends

Given $\text{Change in Retained Earnings}=750$ and $\text{Net Income}=1400$. From $\text{Change in Retained Earnings}=\text{Net Income}-\text{Dividends}$, we can get $\text{Dividends}=\text{Net Income}-\text{Change in Retained Earnings}$. $\text{Dividends}=1400 - 750$

Step2: Calculate the value of dividends

$\text{Dividends}=650$

Answer:

Required 1: $1610$ Required 2: $3060$ Required 3: $3710$ Required 4: $2010$ Required 5: $650$