The following is balance sheet information for Philip Packaging Service at the end of 2019 and 2018:
Question:
The following is balance sheet information for Philip Packaging Service at the end of 2019 and 2018:
Required
a. Prepare a balance sheet as of December 31 of each year.
b. Prepare a statement of stockholders' equity for 2019. The increase in retained earnings is equal to the net income less the dividend.
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