review_problem2_Fall2010

review_problem2_Fall2010 - Calculate missing amounts E1-5B...

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E1-5B Here are incomplete financial statements for Brandon, Inc. BRANDON, INC. Balance Sheet Assets Liabilities and Stockholders’ Equity Income Statement Revenues $80,000 Cost of goods sold (c) Administrative expenses 10,000 Net income $ (d) Retained Earnings Statement Beginning retained earnings $10,000 Net income (e) Dividends 5,000 Ending retained earnings
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