Question

. Jordan’s Jeans Company reported net income for 2014 of $871,800 and the company paid dividends of $0.08
per share in 2014. Given this information (along with the data provided above), compute what Jordan’s Jeans
Company reported as retained earnings on its December 31, 2013 balance sheet? (Assume that no additional
shares of stock were issued between December 31, 2013 and December 31, 2014).

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