(Answered) Question - on february 1 2016 the balance of the retained

Accounting

Question - On February 1, 2016, 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.

Required: Calculate the retained earnings balance at February 28, 2016.

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