What's done is done and itâs time to move on. That isâ¦itâs time for the old guys to move on. As you can see from the table listed below, the junior guys at my airline will celebrate 2 mandatory retirements in December 2012 as our pilots begin to hit the new mandatory retirement age.efore the law changed, I was forecast to retire at age 60 in the year 2028 with a seniority number of 201. Thatâs pretty senior at an airline with over 8,000 pilots. Today, if I retire at age 60, I will retire at number 955.
The retained earnings of a corporation is the accumulated net income of the corporation that is retained by the corporation at a particular point of time, such as at the end of the reporting period.
Changes to Retained Earnings on the Credit Side. Credit 1. Net income is recorded when total revenues (credit balance) exceed total expenses (debit balance). The resulting credit balance in Income Summary is transferred to Retained Earnings as follows: