CONNOR CO.
Retained Earnings Statement
For the Year Ended December 31, 2022
______________________________________________________
Retained earnings, January 1 ............................................................................ $59,000
Add: Net income ........................................................................................ 12,400
71,400
Less: Dividends ........................................................................................ 9,000
Retained earnings, December 31 ............................................................................ $62,400
Ex. 211
Here are incomplete financial statements for Brandon, Inc.:
BRANDON, INC.
Balance Sheet
Assets Liabilities and Stockholders' Equity
Cash $ 5,000 Liabilities
Inventory 10,000 Accounts payable $ 5,000
Buildings 40,000 Stockholders' equity
Total assets $55,000 Common stock (a)
Retained earnings (b)