Problem - What is net income under the following scenario? Post your answer in this thread.
Retained earnings at the end of 2009 were $700,000, but retained earnings at the end of 2010 had declined to $320,000.
The company does not pay dividends.
The company's depreciation expense is its only noncash expense; it has no amortization charges.
The company has no noncash revenues.
The company's net cash flow (NCF) for 2010 was $150,000.