1. The Andrews company currently has the following balances in their equity accounts: Common Stock $117,517 Retained earnings $96,507 Suppose next year the Andrews company generates $46,300 in Net Profit, and declares and pays $16,000 in Dividends. What will Andrews ending balance in Retained Earnings be next year?
2. Companies face budgetary challenges on a continual basis. Two critical aspects that businesses lack are effective control practices and monitoring. 1. What are some examples of effective control practices and how do they help address budgetary challenges?