Question & Answer: 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…..

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 decrease 110,000 Accounts Payable increase 60,000 Use this information and determine Alpha Company’s:

a. the Net Income (Net Loss) the 2017 Fiscal Year.

b. the beginning balance for Retained Earnings