Problem - Alpha's Company's Fiscal Year 2017 Statement of Cash Flows reflected information that cash provided by operating activities was $800,000. The Fiscal Year 12/31/17 Balance Sheet showed the value of Retained Earnings to be $625,000. The following additional information was provided:
| Depreciation Expense |
$380,000 |
| Common Stock Dividends |
200,000 |
| Accounts Receivable increase |
110,000 |
| Accounts Payable decrease |
60,000 |
Use this information and determine Alpha Company's: show your work
a. the Net Income (Net Loss) the 2017 Fiscal Year.
b. the beginning balance for Retained Earnings