On February 1, 2019, the balance of the retained earnings account of Blue Power Corporation was $315,000. Revenues for February totaled $61,000, of which $57,500 was collected in cash. Expenses for February totaled $65,000, of which $54,000 was paid in cash. Dividends declared and paid during February were $6,000. Calculate the retained earnings balance on February 28, 2019.

The retained earnings balance on February 28, 2019 is $305.000.

Explanation:

Balance of the retained earnings account on February 1, 2019 = $315,000

Revenue for February 2019 = $61,000

Expenses for February 2019 = $65,000

Dividend declared in February 2019 = $6,000

Net Income = Revenue - Expenses = 61,000 - 65,000 = -4,000

Ending Balance of Retained Earning = Beginning balance of retained earning + net Income - dividend =

Ending Balance of Retained Earning = $315,000 + (-4000) - $6,000

Ending Balance of Retained Earning = $305,000

The retained earnings balance on February 28, 2019 is $305.000.

Emilias inequality, x<6 is correct because the number of hours is less than it equal to 6. Emilias number line is correct. The endpoint is correctly filled in and the number line should be shaded to the left of the endpoint.