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Statement of Retained Earnings Landon Corporation was organized on January 2 2006 with the investment of $100000 by each of its two stockholders Net income for its first year of business was

Statement of Retained Earnings

Landon Corporation was organized on January 2, 2006, with the investment of $100,000 by each of its two stockholders. Net income for its first year of business was $85,200. Net income increased during 2007 to $125,320 and to $145,480 during 2008. Landon paid $20,000 in dividends to each of the two stockholders in each of the three years.

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Prepare a statement of retained earnings for the year ended December 31, 2008.

May 06 2020 View more View Less

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