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Presented below are data for Antwerp Corp. Current Assets, January 1 Total Assets, January 1 Current Liabilities, January 1 Total Liabilities, January 11 Stockholders' Equity, January 1 Dividends paid for the year Common Stock issued during the year Stockholders' Equity, December 31 2022. $3,250 2,520 2,520 5,250 4,200 840 755 ? 2023. $2,600 9,650 3,500 ? ? 630 675 ? Net Income 1040 1675 If retained earnings had a balance of $0 on January 1, 2022, what is the balance in retained earnings December 31, 2023?

Presented below are data for Antwerp Corp. Current Assets, January 1 Total Assets, January 1 Current Liabilities, January 1 Total Liabilities, January 11 Stockholders' Equity, January 1 Dividends paid for the year Common Stock issued during the year Stockholders' Equity, December 31 2022. $3,250 2,520 2,520 5,250 4,200 840 755 ? 2023. $2,600 9,650 3,500 ? ? 630 675 ? Net Income 1040 1675 If retained earnings had a balance of $0 on January 1, 2022, what is the balance in retained earnings December 31, 2023?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Presented below are data for Antwerp Corp. Current Assets, January 1 Total Assets, January 1 Current Liabilities, January 1 Total Liabilities, January 1 Stockholders' Equity, January 1 Dividends paid for the year Common Stock issued during the year Stockholders' Equity, December 31 2022. $3,250 2,520 2,520 5,250 4,200 840 755 ? 2023. $ 2,600 9,650 3,500 ? ? 630 675 ? Net Income 1040 1675 If retained earnings had a balance of $0 on January 1, 2022, what is the balance in retained earnings December 31, 2023?
Transcribed Image Text:Presented below are data for Antwerp Corp. Current Assets, January 1 Total Assets, January 1 Current Liabilities, January 1 Total Liabilities, January 1 Stockholders' Equity, January 1 Dividends paid for the year Common Stock issued during the year Stockholders' Equity, December 31 2022. $3,250 2,520 2,520 5,250 4,200 840 755 ? 2023. $ 2,600 9,650 3,500 ? ? 630 675 ? Net Income 1040 1675 If retained earnings had a balance of $0 on January 1, 2022, what is the balance in retained earnings December 31, 2023?
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