2-a. What is the amount of retained earnings as of December 31, 2021? 2-b. Did the retained earnings at December 31, 2021, arise primarily from current year earnings or earnings retained from prior years? 2-c. What is your information source? Complete this question by entering your answers in the tabs below. Req 2A Req 2B Req 20 What is the amount of retained earnings as of December 31, 2021? Retained earnings as of December 31, 2021 58,200
2-a. What is the amount of retained earnings as of December 31, 2021? 2-b. Did the retained earnings at December 31, 2021, arise primarily from current year earnings or earnings retained from prior years? 2-c. What is your information source? Complete this question by entering your answers in the tabs below. Req 2A Req 2B Req 20 What is the amount of retained earnings as of December 31, 2021? Retained earnings as of December 31, 2021 58,200
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Complete this question by entering your answers in the tabs below.
![2-a. What is the amount of retained earnings as of December 31, 2021?
2-b. Did the retained earnings at December 31, 2021, arise primarily from current year earnings or earnings retained from prior years?
2-c. What is your information source?
Complete this question by entering your answers in the tabs below.
Req 2A
Req 2B
Req 2C
What is the amount of retained earnings as of December 31, 2021?
Retained earnings as of December 31, 2021
$
58,200
< Req 2A
Req 2B
>](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F49c9504d-90a6-45ee-b501-945c38ba8c84%2F5f23475f-e226-416f-aebf-ceba32245bc0%2F44ko0x_processed.png&w=3840&q=75)
Transcribed Image Text:2-a. What is the amount of retained earnings as of December 31, 2021?
2-b. Did the retained earnings at December 31, 2021, arise primarily from current year earnings or earnings retained from prior years?
2-c. What is your information source?
Complete this question by entering your answers in the tabs below.
Req 2A
Req 2B
Req 2C
What is the amount of retained earnings as of December 31, 2021?
Retained earnings as of December 31, 2021
$
58,200
< Req 2A
Req 2B
>
![!
Required information
[The following information applies to the questions displayed below.]
The following information for the year ended December 31, 2021, was reported by Nice Bite, Incorporated
Accounts Payable
$ 46,000
Accounts Receivable
23,800
90,400
78,000
152,500
Cash (balance on January 1, 2021)
Cash (balance on December 31, 2021)
Common Stock
Dividends
Equipment
Income Tax Expense
137,700
10,200
Interest Expense
29,600
Inventory
Notes Payable
Office Expense
17,300
25,000
14,400
7,100
Prepaid Rent
Retained Earnings (beginning)
Salaries and Wages Expense
6,800
35,800
Service Revenue
139,800
25,200
9,000
Utilities Expense
Salaries and Wages Payable
Other cash flow information:
$ 22,000
24,500
11,100
53,400
84,400
139,000
Cash from issuing common stock
Cash paid to reacquire common stock
Cash paid for income taxes
Cash paid to purchase long-term assets
Cash paid to suppliers and employees
Cash received from customers](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F49c9504d-90a6-45ee-b501-945c38ba8c84%2F5f23475f-e226-416f-aebf-ceba32245bc0%2Fjcivfeq_processed.png&w=3840&q=75)
Transcribed Image Text:!
Required information
[The following information applies to the questions displayed below.]
The following information for the year ended December 31, 2021, was reported by Nice Bite, Incorporated
Accounts Payable
$ 46,000
Accounts Receivable
23,800
90,400
78,000
152,500
Cash (balance on January 1, 2021)
Cash (balance on December 31, 2021)
Common Stock
Dividends
Equipment
Income Tax Expense
137,700
10,200
Interest Expense
29,600
Inventory
Notes Payable
Office Expense
17,300
25,000
14,400
7,100
Prepaid Rent
Retained Earnings (beginning)
Salaries and Wages Expense
6,800
35,800
Service Revenue
139,800
25,200
9,000
Utilities Expense
Salaries and Wages Payable
Other cash flow information:
$ 22,000
24,500
11,100
53,400
84,400
139,000
Cash from issuing common stock
Cash paid to reacquire common stock
Cash paid for income taxes
Cash paid to purchase long-term assets
Cash paid to suppliers and employees
Cash received from customers
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