CFA Level 1
Financial Reporting and Analysis
Ending Balance of Retained Earnings Calculation
Medium Financial Statements Statement Of Changes In Equity
ABC Inc. is preparing its financial statements for the year ended December 31, 2023. The company reported the following changes in its equity accounts:
- Beginning Retained Earnings: $200,000
- Net Income for the Year: $50,000
- Dividends Declared: $10,000
- Issuances of Common Stock: $20,000
Based on the above information, what would be the ending balance of Retained Earnings on the Statement of Changes in Equity?
Hint
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