Please solve the following calculation and describe in steps how you solved it Revenues for 2028 $3000 Dividends declared in 2028 $2000 Expenses for 2028 $1000 January 1 retained earnings balance ??? December 31 retained earnings balance $6000
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Please solve the following calculation and describe in steps how you solved it
Revenues for 2028 $3000
Dividends declared in 2028 $2000
Expenses for 2028 $1000
January 1 retained earnings balance ???
December 31 retained earnings balance $6000
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- Please solve the following and explain in steps how you came to your answer Revenue for 2028 $6000 Dividends declared in 2028 $0 Expenses for 2028 ???? January 1 retained earnings balance $12000 December 31 retained earnings balance $8000Please solve the following and explain in steps how you solved the calculation. Revenue for 2028 $8000 Dividends declared in 2028 $1000 Expenses for 2028 $3000 January 1 retained earnings balance $5000 December 31 retained earnings balance $??????Please solve the following then explain in steps how you solved the problem Revenue for 2028 ???? Dividends declared in 2028 $3000 Expenses for 2028 $6000 January 1 retained earnings balance $8000 December 31 retained earnings balance $9000
- 4c. Prepare the statement of retained earnings (cash dividends during 2019 were $26,000) for 2019. BUG-OFF EXTERMINATORS Statement of Retained Earnings For Year Ended December 31, 2019 0 $0Calculate the net income earned during the year. Assumethat the change to stockholders’ equity results only from netincome earned during the year.Assets LiabilitiesBalance Jan. 1, 2019Balance Dec. 31, 2019$50,00035,000$40,00020,000The stockholders' equity section of Cheyenne Corp. at December 31, 2019, included the following: 5% preferred stock, $100 par value, cumulative, 19,600 shares authorized, 14,300 shares issued and outstanding Common stock, $10 par value, 250,000 shares authorized, 240,000 shares issued and outstanding $1,430,000 $2,400,000 Dividends were not declared on the preferred stock in 2019 and are in arrears. On September 15, 2020, the board of directors of Cheyenne Corp. declared dividends on the preferred stock to stockholders of record on October 1, 2020, payable on October 15, 2020. On November 1, 2020, the board of directors declared a $1 per share dividend on the common stock, payable November 30, 2020, to stockholders of record on November 15, 2020. Prepare the journal entries that should be made by Cheyenne Corp. on the dates indicated below: September 15, 2020 November 1, 2020 October 1, 2020 November 15, 2020 October 15, 2020 November 30, 2020
- K McDaniel and Associates, Inc. reported the following amounts on its 2024 income statement: Year Ended December 31, 2024 Net income Income tax expense Interest expense $ 22,950 6,600 3,000 What was McDaniel's times-interest-earned ratio for 2024? OA. 7.65 OB. 10.85 OC. 9.85 OD. 8.65 point(s) possible ...Life-Positive’s Account Balances 2021 ($) 2022 ($) Accounts Payable 24,600.00 21,250.00 Accounts receivable 15,700.00 12,340.00 Cash 23,450.00 28,600.00 Cost of goods sold 19,700.00 23,000.00 Depreciation 3,090.00 4,590.00 Dividends 5,800.00 10,800.00 Interest 2,340.00 2,890.00 Inventory 7,050.00 8,640.00 Long-term debt 28,000.00 30,000.00 Net fixed assets 41,500.00 48,000.00 Other expenses 2,400.00 2,800.00 Sales 58,000.00 62,500.00 Short-term Notes Payable 2,890.00 2,340.00 Shares outstanding 85,000.00 90,000.00 The tax rate is 32% 1.Prepare a balance sheet for 2021 and 2022 for the company, clearly showing information about each line item. 2.Prepare an income statement for 2021 and 2022 for the company. 3.For the year ending 2022, determine the Net New Equity, Change in Net Working Capital, Net Capital Spending and Operating Cash flow. 4.Calculate the cash flow from assets, cash flow to creditors,…Life-Positive’s Account Balances 2021 ($) 2022 ($) Accounts Payable 24,600.00 21,250.00 Accounts receivable 15,700.00 12,340.00 Cash 23,450.00 28,600.00 Cost of goods sold 19,700.00 23,000.00 Depreciation 3,090.00 4,590.00 Dividends 5,800.00 10,800.00 Interest 2,340.00 2,890.00 Inventory 7,050.00 8,640.00 Long-term debt 28,000.00…
- Please solve and explain in steps how you came to your answer. Revenues for 2028 $5000 Dividends declared in 2028 ??? Expenses for 2028 $4000 January 1 retained earnings balance $8000 December 31 retained earnings balance $3000Life-Positive’s Account Balances 2021 ($) 2022 ($) Accounts Payable 24,600.00 21,250.00 Accounts receivable 15,700.00 12,340.00 Cash 23,450.00 28,600.00 Cost of goods sold 19,700.00 23,000.00 Depreciation 3,090.00 4,590.00 Dividends 5,800.00 10,800.00 Interest 2,340.00 2,890.00 Inventory 7,050.00 8,640.00 Long-term debt 28,000.00 30,000.00 Net fixed assets 41,500.00 48,000.00 Other expenses 2,400.00 2,800.00 Sales 58,000.00 62,500.00 Short-term Notes Payable 2,890.00 2,340.00 Shares outstanding 85,000.00 90,000.00 The tax rate is 32% 1.Calculate the cash flow from assets, cash flow to creditors, and cash flow to stockholders for 2022. 2.what is the Dividends per Share and Earnings per Share for each year for Brown Company. 3.Briefly comment on the company’s cash flows for 2022 in light of an expansion plan which will be financed by both debt and…What is the effect of the errors to the Retained Earnings at the beginning of 2019? * 400,000 410,000 415,000 420,000