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Please help me with the second part, thank you!! 10. Telstar, Inc. had beginning retained earnings of $270,000 on January 1, 2025. During the year,
Please help me with the second part, thank you!!
10. Telstar, Inc. had beginning retained earnings of $270,000 on January 1, 2025. During the year, Telstar, Inc. declared and paid $90,000 of cash dividends and earned $150,000 of net income. In addition, the company reports on January 1,2025,19,000 shares of common stock at a par value of $6 per share. The company issued this stock at par value, and there were no additional changes in common stock throughout the year. Prepare a statement of retained earnings and statement of stockholders' equity for Telstar, Inc. for the year ended December 31,2025Step by Step Solution
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