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Please please help 32. Anderson Inc. had the below account balances as of 12/31/20. Net income for the year ending 12/31/20 was $56,000, and dividends
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32. Anderson Inc. had the below account balances as of 12/31/20. Net income for the year ending 12/31/20 was $56,000, and dividends paid were $26,000. Beginning Retained Earnings as of 12/31/19 were $130,000. a. Calculate the Ending Retained Earnings Balance as of 12/31/20. b. Prepare a Balance Sheet as of 12/31/20 in proper format. Your balance sheet must balance (A=L+E) to be correct. (10 pts total) $ 25,000 $ $ $ $ $ $ $ $ $ Additional Paid-in Capital Common Stock $1 par, 300,000 shs authorized, 140,000 shs issued, 130,000 shs outstanding Preferred Stock, $2 par, 40,000 shares outstanding Accounts Payable Accounts Receivable Accumulated Amortization Accumulated Depletion Accumulated Depreciation Buildings Cash & Cash Equivalents Coal Copyrights Current Maturities of Long-Term Debt Utilities Payable Equipment & Autos Finished Goods Inventory Goodwill Interest Payable Land Long-Term Bonds Payable Long-Term Note Payable Minerals Other Accrued Liabilities Payable Patents Payroll Tax Withholding Payable Prepaid Insurance Raw Materials Inventory Short-term Investments Timber Trademarks Treasury Stock 10,000 sbs Wages Payable Work in Process Inventory 140.000 80,000 44,000 30,000 (12.000) 117,000) _121.000) 315.000 44,000 11.000 21.000 20,000 16.000 66,000 17,000 44,000 3,000 95,000 110.000 80,000 19.000 25,000 19.000 5,000 14,000 15,000 22.000 17.000 13,000 -10,000) 22.000 8.000 AAP AA vi vi vi vi vi viStep by Step Solution
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