Perform the 7 Calculations

Retained Earnings2010 2009R/E @ the beginning 407,000 61,000Add net income 395,000 373,000Total 802,000 434,000Deduct DividendsOn preferred stock 3,000 3,000On common stock 24,000 24,000Total 27,000 27,000R/E @ the End 775,000 407,000Income Statements2010 2009GROSS sales 1,502,000 1,403,000Returns &