Use the pick lists associated with the unprotected cells to prepare Your Name's income statement, statement of retained

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Use The Pick Lists Associated With The Unprotected Cells To Prepare Your Name S Income Statement Statement Of Retained 1 (61.18 KiB) Viewed 27 times

1) How much is the Net Income?
2) End Retained Earnings = Net Income minus Dividends. Trueor False?
3) In the Balance Sheet, Stockholders' equity includesCapital Stock, & End Retained Earnings. True or False?
4) We need to prepare Income Statement first and then theBalance sheet second. The Statement of Retained Earnings is thethird step. True or False?
5) Without calculation of the Ending Balance of RetainedEarnings, it is impossible to have a balanced Balance Sheet. Trueor False?
Use the pick lists associated with the unprotected cells to prepare Your Name's income statement, statement of retained earnings, and balance sheet for the year ending December 31, 20X5. The following information is all that is available. Be sure to prepare proper headings and dates on each financial statement. As a general rule of thumb the boxed areas should all be green, with no red showing. Capital stock Wage expense Services to customers Cash Utilities expense Beginning retained earnings Rent expense Accounts payable Equipment Dividends Accounts receivable Notes payable $ 69,444 14,428 28,633 6,944 1,827 81,115 5,771 5,000 144,289 1,441 27,778 18,285