Net Income & Retained Earnings (Balance Sheet)
rmisk
aretae at magma.ca
Sat Nov 14 23:11:40 EST 2009
As I have mentioned before but got no reply I am having difficulty
understanding the reports. Maybe someone will answer this question:
I think I understand Retained Earnings reasonably well but I have difficulty
understanding why there are 3 headings under Equity Accounts named Retained
Earnings.
More importantly I would have thought one of them would have reflected the
Current Earnings from the Income Statement. That is not the case the Net
Income is about 10% less than the Retained Earnings. I get the same result
with all the Balance Sheet, Income Statement, and Profit & Loss Reports so
it is consistent. I would very much appreciate an explanation.
Thanks,
Roger
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