At the beginning of the year, sigma company's balance sheet reported total assets of $195,000; total liabilities of $15,000; and total paid-in capital of $60,000. during the year, the company reported total revenues of $226,000 and expenses of $175,000. also, dividends during the year totaled $48,000. assuming no other changes to retained earnings, the balance in the retained earnings account at the end of the year would be:

Assuming no other changes to Retained earnings, the balance in the Retained earnings account at the end of the year would be: $123000.

Explanation: First we must calculate the accumulated earnings to date with the equity equation: Assets = Liabilities + Equity

We know that equity is made up of capital + retained earnings.

If the asset is 195,000, the Liability 15,000 and the capital 60000

195000 = 15000 + 60000

195000 = 75000

195000 - 75000 = Retained earnings

$ 120000 = Retained earnings.

The result of the year is Income - expenses

226000 - 175000 = $ 51000.

Then the company's total earnings are retained earnings + Profit for the year = 120000 + 51000 = 171000.

We subtract the distribution of dividends and obtain the balance of the retained earnings account: 171000 - 48000 = $123000.

answer; the correct answer should be (demonstrations); good luck

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