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Student 10 Name Firm x in had a retained earnings balance of $700...

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Accounting

Student 10
Name
Firm x in had a retained earnings balance of $700 at the beginning of 2022 and 100 outstanding shares. During 2022, the company earned $500 as gross profit. Its total operating expense was 100. Also it payed 25% on taxes and had interest expense of $40.
a. Prepare an income statement for Alyn for the year ended 2022.
b. Find how much were Aly's earnings per share.
c. What was the retained earnings balance at the end of 2022.
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