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Net Income for 2020 Net Income for 2021 Dividends for 2020 Dividends for 2021 Total assets at the end of 2020 Total assets at the end of 2021 Required: On the basis of the data given, prepare a statement of retained earnings for both 2020 (its first year of operations) and 2021. 2020 Complete this question by entering your answers in the tabs below. 2021 $ 52,000 57,000 21,000 32,000 137,000 254,000 Retained Earnings, January 1, 2021 Add Net Income Less Dividends Retained Earnings. December 31, 2021 On the basis of the data given, prepare a statement of retained earnings for 2021. STONE CULTURE CORPORATION Statement of Retained Earnings S 168,000 57.000 32.000 S 254.000

Net Income for 2020 Net Income for 2021 Dividends for 2020 Dividends for 2021 Total assets at the end of 2020 Total assets at the end of 2021 Required: On the basis of the data given, prepare a statement of retained earnings for both 2020 (its first year of operations) and 2021. 2020 Complete this question by entering your answers in the tabs below. 2021 $ 52,000 57,000 21,000 32,000 137,000 254,000 Retained Earnings, January 1, 2021 Add Net Income Less Dividends Retained Earnings. December 31, 2021 On the basis of the data given, prepare a statement of retained earnings for 2021. STONE CULTURE CORPORATION Statement of Retained Earnings S 168,000 57.000 32.000 S 254.000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Net Income for 2020 Net Income for 2021 Dividends for 2020 Dividends for 20211 Total assets at the end of 2020 Total assets at the end of 2021 Required: On the basis of the data given, prepare a statement of retained earnings for both 2020 (its first year of operations) and 2021. 2020 Complete this question by entering your answers in the tabs below. 2021 Retained Earnings, January 1, 2021 Add Net Income $ 52,000 $7,000 21,000 32,000 On the basis of the data given, prepare a statement of retained earnings for 2021. STONE CULTURE CORPORATION Statement of Retained Earnings Less Dividends Retained Earnings. December 31, 2021 137,000 254,000 $ 168,000 57,000 32,000 $ 254,000
Transcribed Image Text:Net Income for 2020 Net Income for 2021 Dividends for 2020 Dividends for 20211 Total assets at the end of 2020 Total assets at the end of 2021 Required: On the basis of the data given, prepare a statement of retained earnings for both 2020 (its first year of operations) and 2021. 2020 Complete this question by entering your answers in the tabs below. 2021 Retained Earnings, January 1, 2021 Add Net Income $ 52,000 $7,000 21,000 32,000 On the basis of the data given, prepare a statement of retained earnings for 2021. STONE CULTURE CORPORATION Statement of Retained Earnings Less Dividends Retained Earnings. December 31, 2021 137,000 254,000 $ 168,000 57,000 32,000 $ 254,000
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