The following selected income statement and balance sheet information is available for Xin Land Appraisers at the
Question:
The following selected income statement and balance sheet information is available for Xin Land Appraisers at the end of the current month:
a. Calculate the net income or net loss for the month.
b. If stockholders made no additional investment during the month but received \(\$ 6,000\) as a dividend, what is the amount of retained earnings at the end of the month?
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