Thank you so much. I really appreciate your reply. Just a minor question though:
Are assets a part of retained earnings? For example, cash in my account is 13k at end of year, if I add 1k of estimated taxes as assets, it makes my retained earnings as 14k. Is that correct? I also have zero liabilities and it throws my balance sheet out of whack.
I most probably have to look up how this should work, but any help is appreciated.
Thanks again.
