Paper 2 · Limited Companies

Kwaedza Limited's net profit for the year ended 31 December 2013 was $436 000. After transferring$200 000 to the General Reserve and providing dividends totalling $225 000 (preference$120 000, ordinary interim $65 000, ordinary final$40 000), what was the retained profit for the year (before adding the opening Profit and Loss balance of $270 000)?

Derived from ZIMSEC Principles of Accounts 7112/2 Paper 2, November 2015, Q4