Prepare a retained earnings statement for the year ended

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Reference no: EM13257726

eWare Corporation began operations on January 1, 2009, as anonline retailer of computer software and hardware. Thefollowing financial statement data were taken from eWare'srecords at the end of its first year of operations, December 31,2009

Accountspayable $31,500

Accountsreceivable 50,400

Capitalstock 262,500

Cash ?

Cash or operatingactivities 735,000

Cash receipts from operatingactivities 878,850

Cost ofsales 420,000

Dividends 26,250

Income taxexpense 147,000

Income taxespayable 21,000

Interestexpense 15,750

Inventories 94,500

Note payable (due in2015) 105,000

Property, plan, andequipment 396,900

Retainedearnings ?

Sales 929,250

Selling and administrativeexpense 110,250

Prepare an income statement for the year ended December 31,2009
Prepare a retained earnings statement for the year endedDecember 31, 2009
Prepare a balance sheet as of December 31, 2009
Prepare a statement of cash flows for the year ended December31, 2009

Reference no: EM13257726

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