Question

hese are the simplified financial statements for Judd Enterprises. Income statement Current Projected Sales na 1,000 Costs na 720 Profit before tax na 280 Taxes (25%) na 70 Net income na 210 Dividends na 63 Balance sheets Current Projected Current Projected Current assets 100 115 Current liabilities 70 81 Net fixed assets 900 1,080 Long-term debt 400 Common stock 300 Retained earnings 230 Refer to the Judd Enterprises financial statements. What is Judd's projected retained earnings under this plan

Answer 1

Judd’s projected retained earnings under this plan = $377

Step-by-step explanation:

Judd’s projected retained earnings under this plan. = Old retained earnings + New net income - Current dividends

Judd’s projected retained earnings = $230 + $210 - $63

Judd’s projected retained earnings = $377