00:01
Firstly, we will give the income statement.
00:04
So, income statement of company y as on year ended the date.
00:34
So, it will be service revenue $74 ,000, expense under it we have insurance expense $5 ,600, salaries expense $24 ,000, miscellaneous expenses $22 ,800, then net income will be $21 ,600.
01:51
We then make company y retained earnings statement for the year ended and any date.
02:28
So, here retailed earnings beginning of the year $8 ,000, net income $21 ,600, dividends $4 ,200.
03:13
So, then retained earnings end of the year $25 ,400...