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Morgan Sondgeroth Inc. began operations in January 2012 and reported the following results for each of its 3 years of each of its 3 years
Morgan Sondgeroth Inc. began operations in January 2012 and reported the following results for each of its 3 years of each of its 3 years of operations. 2012 $275, 600 net loss 2013 $56, 800 net loss 2014 $724, 200 net income At December 31, 2014, Morgan Sondgeroth Inc. capital accounts were as follows. Morgan Sondgeroth Inc. has never paid a cash or stock dividend. There has been no change in the capital accounts since Sondgeroth began operations. The state law permits dividends only from retained earnings
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