Prob. 1–4A (Concluded) 2. SUNRISE REALTY Retained Earnings Statement For the Month Ended October 31, 2014 $ 0 Retained earnings, October 1, 2014 Net income for October $23,650 Less dividends 3,000 Increase in retained earnings 20,650 $20,650 Retained earnings, October 31, 2014 SUNRISE REALTY Balance Sheet October 31, 2014 Assets Liabilities Cash $38,500 Accounts payable $ 1,400 1,550 Supplies Equity Stockholders’ $18,000 Capital stock Retained earnings 20,650 Total stockholders’ equity 38,650 Total liabilities and Total assets $40,050 equity $40,050 stockholders’
Prob. 1–4A (Concluded) 2. SUNRISE REALTY Retained Earnings Statement For the Month Ended October 31, 2014 Retained earnings, October 1, 2014 $ 0 Net income for October $23,650 Less dividends 3,000 Increase in retained earnings 20,650 Retained earnings, October 31, 2014 $20,650 SUNRISE REALTY Balance Sheet October 31, 2014 Assets Liabilities Cash $38,500 Accounts payable $ 1,400 Supplies 1,550 Stockholders’ Equity Capital stock $18,000 Retained earnings 20,650 Total stockholders’ equity 38,650 Total liabilities and Total assets $40,050 stockholders’ equity $40,050
Warren_FinMan12e_SM01_final.docx