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QUESTION 2 For the yoar ended December 31. Year 2 For the year ended December 31, Year 11 Revenues $ 8,500 $5,000 Expenses $ 3,500

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QUESTION 2 For the yoar ended December 31. Year 2 For the year ended December 31, Year 11 Revenues $ 8,500 $5,000 Expenses $ 3,500 $ Net Income S $ December 31, Year 2 December 31, Year 1 Assets $18,500 $ 10,000 Liabilities $ 5,000 Common Stock $3,000 3,000 Retained Earnings 1.$ 2,000 Assume Year 1 is the company's first year of business and there were $300 of dividends paid in Year 1 and $200 of dividends paid in Year 2. After determining the missing amounts, In the above financial statements, calculate and type in the December 31, Year 2 Retained Earnings 1.5 (The company had no other stock-related transactions other than the $3.000 stock issued in Year 1)

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