on December 31, 2019, retained earnings has a normal balance of $15,800. on December 31, 2020, retained earnings have a normal balance of 17,100. During 2020, dividends of $4,200 were declared and paid. Based on this information, net income for 2020 is?  a- 4,200 b- 2,800 c- 2,100 d- 7,000

At January 1, 2020, Crane Company reported retained earnings of $1,938,000. In 2020, Crane discovered that 2019 depreciation expense was understated by $387,600. In 2020, net income was $822,000 and dividends declared were $205,000. The tax rate is 20%. Prepare a 2020 retained earnings statement for Crane Company. CRANE COMPANY Retained Earnings Statement

Problem 17-2A (Algo) Ratios, common-size statements, and trend percer [The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 2021 $546,242 328,838 217,404 77,566 49,162 126,728 90,676 16,866 $ 73,810 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income KORBIN COMPANY Comparative Balance Sheets December 31 2020 $ 418,466 263,634 2021 % 154,832 57,748 36,825 94,573 60, 259 12,353 $ 47,906 % $61,141 0 113,547…

1. During 2021, Target Corporation had: Revenue of $623,000 Cost of Goods Sold of $250,000 Operating expenses of $68,000 Interest expense of $4,000 Depreciation Expense of $13,000       During the year Target Corporation paid: 50% of net income in dividends 21% in corporate taxes   a. Prepare a multi-step income statement on Sheet 1 of your spreadsheet. Include the dividend and additions to Retained Earnings below the income statement.   b. Calculate Target's Operating Cash Flow beneath the Income Statement.   2. The following data refers to the 2021 year-end account balances for Target.  However, the Retained Earnings balance is as of 12/31/2020. The accounts are listed in alphabetical order.                                                                                              $ Accounts Payable 25,000  Accounts Receivable 16,000  Accumulated Depreciation 175,000 Cash 44,000  Common Stock 120,000  Fixed Assets (gross) 390,000…

On July 1, 2021, the assets and liabilities of Lui Company are as follows: Cash, $96,000; Accounts Receivable, $75,800; Prepaid Rent, $12,000; Land, $318,000; Accounts Payable, $58,700; Mortgage Payable, $162,000. What is the amount of stockholders’ equity as ofbJuly 1, 2020?   722,500 281,100 296,100 assuming that 15,000 of dividends were paid 125,100

Quality Instruments had retained earnings of $320,000 at December 31, 2020. Net income for 2021 totaled $215,000, and dividends declared for 2021 were $95,000. How much retained earnings should Quality report at December 31, 2021? OA. $415,000 OB. $440,000 OC. $320,000 OD. $535,000

Please Prepare The Income Statement !

how to determine net income for december 2019 if i am given cash dividends of 2000. stock issuence of 1400. liabillties of 26,500. assets of 40000. the decmber 2018 assets 34000. liabilities of 21,500 are also given.

A firm's year-end retained earnings balances are $670,000 and $780,000, for 2018 and 2019 respectively. The firm paid $10,000 in dividends in 2019. The firm's net profit after taxes in 2019 was $110,000 -$100,000 $100,000 -$110,000

compute the amount of liabilities for December 31 2018. assets for 2018 119,000. december 2019 assets 113,000. liabilities 70,000.stock issuance 6,500. net income 20,000. cash dividends 11,000.