Question: This exercise should be used with Exercise 1 20A Refer to

This exercise should be used with Exercise 1-20A. Refer to the data of Alan Sanders Realty Company in Exercise 1-20A.
In Exercise 1-20A, Amounts of the assets and liabilities of Alan Sanders Realty Company, as of July 31, 2014, are given as follows. Also included are revenue, expense, and selected stockholders’ equity figures for the year ended on that date (amounts in millions):


Requirements
1. Prepare the income statement of Alan Sanders Realty Company for the year ended July 31, 2014.
2. What amount of dividends did Alan Sanders declare during the year ended July 31, 2014?
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  • CreatedJuly 25, 2014
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