What is the value of Retained Earnings for August for a company based on the acc

Question

What is the value of Retained Earnings for August for a company based on the accounts provided below:
Retained Earnings (September) = $12898
Retained Earnings (July) = $15040 Prepaid Rent = $2904
Inventory Expense = $3439
Wage Expense = $6775 Dividends = $3223
Sales Revenue = $9970 What is the value of Retained Earnings for August for a company based on the accounts provided below:
Retained Earnings (September) = $12898
Retained Earnings (July) = $15040 Prepaid Rent = $2904
Inventory Expense = $3439
Wage Expense = $6775 Dividends = $3223
Sales Revenue = $9970 What is the value of Retained Earnings for August for a company based on the accounts provided below:
Retained Earnings (September) = $12898
Retained Earnings (July) = $15040 Prepaid Rent = $2904
Inventory Expense = $3439
Wage Expense = $6775 Dividends = $3223
Sales Revenue = $9970

Explanation / Answer

Assuming the data provided is for the month of august then :

Retained earnings(september)= Retained earnings(August)+ Net income-dividends

Net income=sales-inventory exp-wage expense

=9970-3439-6775= -244

12898=Retained earnings(august)-244-3223

Retained earnings(august)=12898+244+3223=16365

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