QUESTION 5 For the year ended December 31, Year 2 For...
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Accounting
QUESTION 5
For the year ended December 31, Year 2
For the year ended December 31, Year 1
Revenues
$6,500
$500
Expenses
$1,500
Net Income
December 31, Year 2
December 31, Year 1
Assets
$16,500
$1,000
Liabilities
$500
Stock
$300
$300
Retained Earnings
1.$___
$200
Assume Year 1 is the company's first year of business and there were $100 dividends in Year 1 and $100 dividends in Year 2. After determining the missing amounts ($______) in the above financial statements, calculate and type in the December 31, Year 2 Retained Earnings 1.$_________.
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