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Maris Corporation Income Statement Year Ended December 31, 20XX Sales $5,500,000 Cost of goods sold 3,725,000 Gross profits 1,775,000 Selling and administrative expense 710,000 Amortization

Maris Corporation Income Statement Year Ended December 31, 20XX
Sales $5,500,000
Cost of goods sold 3,725,000
Gross profits 1,775,000
Selling and administrative expense 710,000
Amortization expense 230,000
Operating income 835,000
Interest expense 50,000
Earnings before taxes 785,000
Taxes 470,000
Earnings after taxes 315,000
Preferred stock dividends 25,000
Earnings available to common shareholders $290,000
Shares outstanding 145,000
Earnings per share $2.00

Statement of Retained Earnings For the Year Ended December 31, 20XX
Retained earnings, balance, January 1, 20XX $900,000
Add: Earnings available to common shareholders, 20XX 290,000
Deduct: Cash dividends declared and paid in 20XX 150,000
Retained earnings, balance, December 31, 20XX $1,040,000

Shareholders equity: Preferred stock 130,000 130,000 Common stock 500,000 500,000 Retained earnings 1,040,000 900,000 Total shareholders equity 1,670,000 1,530,000 Total liabilities and shareholders equity $3,039,000 $2,645,000

Find the prefred and common divided to enter in the cash flow

Prepare a statement of cash flows for the Maris Corporation

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