During its first five years of operations, Red Raider Consulting reports net income and pays dividends as follows: Year Net Income Dividends Retained Earnings
1 $1,700 $ 600
2 $ 2,200 $ 600
3 $ 3,100 $ 1,500
4 $ 4,200 $ 1,500
5 $5,400 $1,500
Required:
Calculate the balance of retained earnings at the end of each year. Note that retained earnings will always equal $0 at the beginning of year 1.

In early january, burger mania acquired 100% of the common stock of the crispy taco restaurant chain. the purchase price allocation included the following items: $4 million, patent; $3 million, trademark considered to have an indefinite useful life; and $5 million, goodwill. burger mania's policy is to amortize intangible assets with finite useful lives using the straight-line method, no residual value, and a five-year service life. what is the total amount of amortization expense that would appear in burger mania's income statement for the first year ended december 31 related to these items?