Retained earnings : Retained earnings represent the number of undistributed earnings over the period of time, retained earnings statement shows the balance of retained earnings after the addition of undistributed income for the year and deduction of dividends. The year-end retained earnings statement M Co.

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Chapter 1, Problem 24E

(a).

To determine

Concept Introduction:

Retained earnings: Retained earnings represent the number of undistributed earnings over the period of time, retained earnings statement shows the balance of retained earnings after the addition of undistributed income for the year and deduction of dividends.

The year-end retained earnings statement M Co.

(b).

To determine

Concept Introduction:

Retained earnings: Retained earnings represent the number of undistributed earnings over the period of time, retained earnings statement shows the balance of retained earnings after the addition of undistributed income for the year and deduction of dividends.

The year-end balance sheet using retained earnings calculated.

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