Using the following table and the equations underlying each of the four basic financial statements,...
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Accounting
Using the following table and the equations underlying each of the four basic financial statements, show (a) that the balance sheet is in balance, (b) that net income is properly calculated, (c) what caused changes in the retained earnings account, and (d) what caused changes in the cash account. (Cash outflows should be indicated with a minus sign.) Assets $ 80,200 Liabilities 18,850 Stockholders' Equity 61,350 Revenue 32,800 Expenses 19,300 Net Income 13,500 Dividends 5,250 Beginning Retained Earnings 2
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