nment 1 5 Saved As of December 31, Year 1, Moss Company had total cash of $165,000, notes payable of $86,500, and common stock of $53,300. During Year 2, Moss earned $45,000 of cash revenue, paid $24,500 for cash expenses, and paid a $3,900 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, Year 1. Retained earnings ook Int ences Help Saw b. & c. Create an accounting equation and record the beginning account balances, revenue, expense, and dividend events under the appropriate elements of the accounting equation. (Enter any decreases to account balances with a minus sign.) MOSS COMPANY Effect of Year 2 Transactions on the Accounting Equation Event Beginning balance 1. Eamed revenue 2. Paid expenses 3. Paid dividend Ending balance 6 Assets Cash Liabilities + Stockholders' Equity Notes Payable Common Stock Retained Earnings + + + < Prev 5 of 5 Next > tv N A W