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#12 Use the following information to calculate for the year ended December 31, 20XX (a) net income (net loss), (b) ending retained earnings, and (c)
#12
Use the following information to calculate for the year ended December 31, 20XX (a) net income (net loss), (b) ending retained earnings, and (c) total assets.
Supplies $ 1,000 Revenues $23,000
Operating expenses 12,000 Cash 15,000
Accounts payable 9,000 Dividends 1,000
Accounts receivable 3,000 Notes payable 1,000
Beginning Retained Earnings 5,000 Equipment 6,000
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