Final answer:
The additions to retained earnings for 'That Which Corp.' cannot be determined without knowing the net income and dividends paid for the year just ended.
Step-by-step explanation:
To calculate the additions to retained earnings, we need to know the net income and dividends paid by 'That Which Corp.' for the year just ended.
Retained earnings represent the accumulated profits of a company that have not been distributed as dividends. The formula to calculate the additions to retained earnings is:
Additions to Retained Earnings = Net Income - Dividends. Without knowing these specific values, we cannot determine the additions to retained earnings for 'That Which Corp.' for the year just ended.
Your correct question is: What additions to retained earnings did That Which Corp, have for the year just ended, given the information of $298,000?