The following information is available from the balance sheets at the end of 2012 and 2011 for Kitchen Equipment Company.
Net income for 2012 and 2011 was $120,000 and $460,000,respectively.No stock was issued during either year.Answer the following:

Question

The following information is available from the balance sheets at the end of 2012 and 2011 for Kitchen Equipment Company.
  Net income for 2012 and 2011 was $120,000 and $460,000,respectively.No stock was issued during either year.Answer the following:

Quizplus · Accepted Answer

The Answer of The following information is available from the balance sheets at the end of 2012 and 2011 for Kitchen Equipment Company.
  Net income for 2012 and 2011 was $120,000 and $460,000,respectively.No stock was issued during either year.Answer the following:

The Following Information Is Available from the Balance Sheets at the End