Reference no: EM131110759
The income statement for the year ended December 31, 2012, the balance sheets for December 31, 2012 and 2011, and the statement of retained earnings for the year ended December 31, 2012, for Technica, Inc., are given below and on the following page. Briefly discuss the form and informational content of each of these statements.
Technica, Inc. Statement of Retained Earnings
For the Year Ended December 31, 2012
Retained earnings balance (January 1, 2012) ....... $50,200
Plus: Net profits after taxes (for 2012) ........... 42,900
Less: Cash dividends (paid during 2012) .......... 20,000
Retained earnings balance (December 31, 2012)....... $73,100
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Briefly discuss the form and informational content of each
: The income statement for the year ended December 31, 2012, the balance sheets for December 31, 2012 and 2011, and the statement of retained earnings for the year ended December 31, 2012, for Technica, Inc., are given below and on the following page. ..
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