Riley Incorporated reports the following amounts at the end of the year:
In addition,the company had common stock of $65,000 at the beginning of the year and issued an additional $5,000 during the year.The company also had retained earnings of $20,700 at the beginning of the year and paid dividends of $2,000 during the year.Prepare the income statement,statement of stockholders' equity,and balance sheet.

Question

Riley Incorporated reports the following amounts at the end of the year:
  In addition,the company had common stock of $65,000 at the beginning of the year and issued an additional $5,000 during the year.The company also had retained earnings of $20,700 at the beginning of the year and paid dividends of $2,000 during the year.Prepare the income statement,statement of stockholders' equity,and balance sheet.

Quizplus · Accepted Answer

The Answer of Riley Incorporated reports the following amounts at the end of the year:
  In addition,the company had common stock of $65,000 at the beginning of the year and issued an additional $5,000 during the year.The company also had retained earnings of $20,700 at the beginning of the year and paid dividends of $2,000 during the year.Prepare the income statement,statement of stockholders' equity,and balance sheet.

Riley Incorporated Reports the Following Amounts at the End of the Year