Business, 14.06.2020 04:57 richaeviney

The following account balances relate to the stockholders’ equity accounts of Skysong, Inc. at year-end. 2020 2019 Common stock, 10,500 and 10,000 shares, respectively, for 2020 and 2019 $155,300 $145,000 Preferred stock, 5,000 shares 159,000 159,000 Retained earnings 305,000 249,100 A small stock dividend was declared and issued in 2020. The result of the stock dividend was to decrease retained earnings by $11,300 and increase common stock by $11,300. Cash dividends were $17,000 in both 2020 and 2019. The common stock has no par or stated value. (a) What was the amount of net income reported by Skysong, Inc. in 2020? Net income $

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The following account balances relate to the stockholders’ equity accounts of Skysong, Inc. at year-...