Hutch corp finished their fisacl year ending march 31 2010

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Hutch corp. finished their fisacl year ending March 31, 2010. With 88,000 net income. They issued 22,000 of dividends at year end. At the end of the year on march 31, 2011 they had a net loss of (46,000) and did not distibute any dividens at year end. In the fiscal year ending Mach 31, 2012 they recorded a net income of 55,000 and their dividends distributed were 15,000. What is the projected ending retained earning balance as of March 31, 2012, assuming 2010 was their first year of business?

Reference no: EM13600499

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