Unformatted text preview: Statement of Retained Earnings - Note how the combined statement of income
and retained earnings is anchored to the
balance sheet equation Assets = Liabilities + Paid-in Capital + Retained earnings /—/% [Beginning balance + Revenues - Expenses - Dividends]
[5?,900 + 1?6.000 - 112,100 - $50,000] a; Ending Retained Earnings Balance = $11,800 ...
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- Fall '07
- Financial Accounting