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Judd Enterprises These are the simplified financial statements for Judd Enterprises.
Income statement Current Projected
Sales na 1,000
Costs na 720
Profit before tax na 280
Taxes (25%) na 70
Net income na 210
Dividends na 63
Balance sheets Current Projected
Current assets 100 115
Current liabilities
Net fixed assets 900 1,080
Long-term debt
Common stock
Retained earnings
Question 1: Refer to the Judd Enterprises financial statements. What is Judd's projected retained earnings under this plan?
The concepts statements provide,Identity at least two of these examples. Do you think the materiality guidelines should be quantified? Why or why not?
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