The Goodyear Tire & Rubber Company’s December 31, 2016 financial statements reported the following (in millions): Total assets $16,511 Total liabilities 11,786 Total shareholders’ equity 4,725 Dividends 82 Net income (loss) 1,264 Retained earnings, December 31, 2015 4,570 What did Goodyear report for retained earnings at December 31, 2016?

$5,752

Explanation:

Calculation for What did Goodyear report for retained earnings at December 31, 2016

Using this formula

Retained earnings at December 31, 2016=Beginning retained earnings + Net income - Dividends

Let plug in the formula

Retained earnings at December 31, 2016=$4,570 + $1,264 - $82

Retained earnings at December 31, 2016=$5,752

Therefore What did Goodyear report for retained earnings at December 31, 2016 is $5,752

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