Statement of Retained Earnings Landon Corporation was organized on January 2, 2006, with the investment of $100,000
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Statement of Retained Earnings Landon Corporation was organized on January 2, 2006, with the investment of $100,000 by each of its two stockholders. Net income for its first year of business was $85,200. Net income increased during 2007 to $125,320 and to $145,480 during 2008. Landon paid $20,000 in dividends to each of the two stockholders in each of the three years.
Required Prepare a statement of retained earnings for the year ended December 31, 2008.
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Financial Accounting The Impact On Decision Makers
ISBN: 9780324655230
6th Edition
Authors: Gary A. Porter, Curtis L. Norton
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