How to calculate Dividend & Retained Earnings?

I am not good at accounting and I am stuck in a problem, can anyone please help me to solve, Q1) At the beginning of current fiscal year Danny Corp. balance sheet showed assets of ...show more
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You really made my concept clear thanks PrivateBanker.... I wish to get your help in future as well :-)

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A - L = E Begin equity: 12,400 - 7,000 = 5,400 assuming no other changes to equity... End equity = Begin equity + net income - Dividends Declared "DD" = 5,400 + 3,000 - DD = 8,400 - DD end E = end A - end L (8,400 - DD) = 6,000 - (7,000 - 1,200) 8,400 - DD = 200 DD = 8,200

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