26 days ago

Maria Queen was reviewing her business activities at the end of the year (2022) and decided to prepare a Retained Earnings State

ment. At the beginning of the year her assets were $700,000 and her liabilities were $210,000. At the end of the year the assets had grown to $930,000 but liabilities had also increased to $340,000. Common Stock was $200,000 in both years. The netincome for the year was $220,000. The company paid dividends of $120,000 during the year.
Required:
Prepare a Retained Earnings statement in good form.

Business

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