For the year ending December 31, 1996, Maddy Inc. reports net income ($ 182,000) and dividends ($

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For the year ending December 31, 1996, Maddy Inc. reports net income $\$ 182,000$ and dividends $\$ 85,000$. Prepare the retained earnings statement for the year assuming the balance in retained earnings on January 1, 1996, was $\$ 220,000$.

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Financial Accounting

ISBN: 9780471169208

2nd Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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For the year ending December 31, 1996, Maddy Inc. reports net income ($ 182,000) and dividends ($

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Financial Accounting

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