The accountant for Crusoe Company is preparing the company's statement of cash flows for the fiscal year that just ended. The following information is available:Retained earnings balance at the beginning of the year $126,000Cash dividends declared for the year $46,000Proceeds from the sale of equipment $81,000Gain on the sale of equipment $7,000Cash dividends payable at the beginning of the year $18,000Cash dividends payable at the end of the year $20,000Net income for the year $92,000What is the ending balance for retained earnings?a. $172,000b. $170,000c. $352,000d. $179,000e. $218,000

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05-12-2022
Business

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The accountant for Crusoe Company is preparing the company's statement of cash flows for the fiscal year that just ended. The following information is available:Retained earnings balance at the beginning of the year $126,000Cash dividends declared for the year $46,000Proceeds from the sale of equipment $81,000Gain on the sale of equipment $7,000Cash dividends payable at the beginning of the year $18,000Cash dividends payable at the end of the year $20,000Net income for the year $92,000What is the ending balance for retained earnings?a. $172,000b. $170,000c. $352,000d. $179,000e. $218,000

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