Retained earnings delta and Net Income - Dividend doesn't match?

  • Thread starter Thread starter steve
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steve

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Hi, I am just trying to figure out how retained earnings on the balance sheet works.

From what I know:
Retained Earnings = Previous Retained Earnings - Cash dividends + Net Income

which means that:
Retained Earnings - Previous Retained Earnings = Net Income - Cash Dividends

However, I can seem to get the 2 values to match. Any ideas why?

Thanks
 
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