This exercise should be used with Exercise 1 30B In Exercise
This exercise should be used with Exercise 1-30B.
In Exercise 1-30B, Amounts of the assets and liabilities of Diaz Design Company, as of July 31, 2014, are 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 Diaz Design Company for the year ended July 31, 2014.
2. What amount of dividends did Diaz Design declare during the year ended July 31, 2014?
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