The following information for Kellman Inc. is available at the end of 2019. Total assets on 12/31/2018......

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The following information for Kellman Inc. is available at the end of 2019.

Total assets on 12/31/2018...... $82,400... Common stock on 12/31/2018...... $50,000

Total assets on 12/31/2019...... 88,500 ..... Common stock on 12/31/2019.........50,000

Total liabilities on 12/31/2018... 9,200...... Net income for 2019 ..........................19,500

Total liabilities on 12/31/2019....11,300

Required:

Calculate the amount of dividends reported on the retained earnings statement for 2019?

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Cornerstones of Financial Accounting

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Authors: Jay Rich, Jeff Jones

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Question Posted: Sep 21, 2024 05:14 AM

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The following information for Kellman Inc. is available at the end of 2019. Total assets on 12/31/2018......

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Fromthe information given in the problem and the fundamental accounting equ...View the full answer

Cornerstones of Financial Accounting

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