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    Linda Stanley Co.

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    The following information relates to Linda Stanley Co. for the year 2008.
    Retained earnings, January 1, 2008 $ 48,000 Advertising expense $ 1,800
    Dividends during 2008 6,000 Rent expense 10,400
    Service revenue 62,500 Utilities expense 3,100
    Salaries expense 30,000
    Instructions
    After analyzing the data, prepare an income statement and a retained earnings statement for the
    year ending December 31, 2008.

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    https://brainmass.com/business/business-math/income-statement-retained-earnings-statement-241238

    Solution Preview

    The following information relates to Linda Stanley Co. for the year 2008.

    Retained earnings, January 1, 2008 $ 48,000
    Advertising expense $ 1,800
    Dividends during 2008 6,000
    Rent expense 10,400
    Service revenue 62,500
    Utilities ...

    Solution Summary

    This solution is comprised of a detailed explanation to prepare an income statement and a retained earnings statement for the year ending December 31, 2008.

    $2.19

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