Refer to Polaris’s financial statements in Appendix A to answer the following Required 1. For the year ended December 31, 2011, what amount is credited to Income Summary to summarize its revenues earned?
2. For the year ended December 31, 2011, what amount is debited to Income Summary to summarize its expenses incurred ?
3. For the year ended December 31, 2011, what is the balance of its Income Summary account before it is closed?
4. In its statement of cash flows for the year ended December 31, 2011, what amount of ca.sh is paid in dividends to common stockholders?

Fast Forward 5.Access Polaris’s annual report for years ending after December 31,2011, at its Website fPoIaris.com) or the SEC’s EDGAR database fwww.SEC.gov). How has the amount of net income closed to Income Summary changed in the years ending after December 31,2011 ? How has the amount of cash paid as dividends changed in the years ending after December 31, 2011?