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Business, 15.02.2020 02:56 tay3270

As of December 31, 2015, Juneau Company had total cash of $155,000, notes payable of $85,600, and common stock of $52,400. During 2016, Juneau earned $36,000 of cash revenue, paid $20,000 for cash expenses, and paid a $3,000 cash dividend to the stockholders. Assuming no change in notes payable and common stock, determine the amount of retained earnings as of December 31, 2016.

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As of December 31, 2015, Juneau Company had total cash of $155,000, notes payable of $85,600, and co...
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