The income statement for the year ended December 31, 2012, the balance sheets for December 31, 2012 and 2011, and the statement of retained earnings for the year ended December 31, 2012, for Technica, Inc., are given below and on the following page. Briefly discuss the form and informational content of each of these statements.

Technica, Inc. Statement of Retained Earnings
For the Year Ended December 31, 2012

Retained earnings balance (January 1, 2012) ....... $50,200
Plus: Net profits after taxes (for 2012) ........... 42,900
Less: Cash dividends (paid during 2012) .......... 20,000
Retained earnings balance (December 31, 2012)....... $73,100

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Technica, Inc. Income Statement for the Year Ended December 31, 2012 S 30,000 taxcs Eamings available for common stockholders Technica, lac. Balance Sheets $150,000 $150,000 5 75,000 $ 71.000 Common stock equity (shares outstanding 19,500 in 2012 and 20,000 in 2011) $110,200 $120,000 183 300 $170200