What was the ending balance in retained earnings

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Reference no: EM131914774

Problem

Miro Company started the year with common stock of $65,000 and paid in capital in excess of par of $130,000. There were no new stock issuances during the year. It had retained earnings of $55,000 at the beginning of the year. It had revenue of $200,000 and expenses of $45,000. It paid dividends of $6,000.

A) What is net income for the year?
B) What was the ending balance in retained earnings?
C) What is the total equity at the end of the year?

Reference no: EM131914774

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