Anderson Corporation had a credit balance of $43,000 in its Retained Earnings account on December...
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Anderson Corporation had a credit balance of $43,000 in its Retained Earnings account on December 31, 2021. Net income of $6,000 was reported on its income statement for the year ended December 31, 2022. Dividends in the amount of $5,625 were declared on December 31, 2021; the dividends are payable to the company's stockholders on February 1, 2022. The balance in its Retained Earnings account on December 31, 2022 equals $12,625 $11,375 $108,625 $43,375
Anderson Corporation had a credit balance of $43,000 in its Retained Earnings account on December 31,2021, Net income of $6,000 was reported on its income statement for the year ended December 31,2022 . Dividends in the amount of $5,625 were declared on December 31, 2021; the dividends are payable to the company's stockholders on February 1, 2022. The balance in its Retained Earnings account on December 31,2022 equals $12,625$11,375$108,625$43,375
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