Business, 05.05.2020 23:00 nyahdrake

Xavier Heffner owns and operates Heffner Advertising Services. On January 1, 2018, Retained Earnings had a balance of $180,650. During the year, Xavier invested an additional $39,700 in exchange for common stock and $23,500 in dividends were paid. For the year ended December 31, 2018, Heffner Advertising Services reported a net income of $19,500.

Prepare a retained earnings statement for the year ended December 31, 2018.

Heffner Advertising Services

Retained Earnings Statement

For the Year Ended December 31, 2018

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Xavier Heffner owns and operates Heffner Advertising Services. On January 1, 2018, Retained Earnings...