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Unformatted text preview: Net income (Income= R - E) o Pretax Income o Income Tax expense Statement of Retained Earnings • Beginning retained earnings (0 if company just started) • Net Income ( from Income Statement) • Dividends • Ending Retained earnings Statement of cash flows • Cash flows • Cash at beginning of year • Cash at end of year Balance Sheet • Assets (Accounts recievable, cash, property, inventory) • Liabilities (payable, salary) • Stockholders Equity (Retained earnings, contributed capital(money from investors))...
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This note was uploaded on 09/23/2007 for the course AEM 2210 taught by Professor Little,j. during the Fall '07 term at Cornell.
- Fall '07
- Generally Accepted Accounting Principles