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(Solution Download) The accountant for Robinson Company is preparing the company's statement of cash flows for the...


 

 

 

 

 

 

 

The accountant for Robinson Company is preparing the company's

 

statement of cash flows for the fiscal year just ended. The

 

following information is available:

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Retained earnings

 

balance at the beginning of the year

$ 166,000
  Cash dividends

 

declared for the year

56,000
  Proceeds from the

 

sale of equipment

91,000
  Gain on the sale of

 

equipment

9,000
  Cash dividends

 

payable at the beginning of the year

28,000
  Cash dividends

 

payable at the end of the year

52,000
  Net income for the

 

year

102,000

 


 

  

 

 

 

 

 

 

 

What is the ending balance for

 

retained earnings?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$296,000.
$194,000.
$268,000.
$272,000.
$212,000.

 


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