Notes to financial statements

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Reference no: EM131983245

1. “Notes” to financial statements:

are as important as the financial statements to a financial analyst.

mostly deal with issues of rounding of numbers.

are not required if the auditor gives a clean opinion.

are generally not necessary.

2. If total stockholders’ equity is $55K and stock is $50K, what is amount of retained earnings on the Statement of Stockholder’s Equity?

a. $105K

b. $15K

c. $5K

Reference no: EM131983245

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