Question

Use the data in P11-55B to prepare the Midler Cosmetics statement of retained earnings for the year ended December 31, 2014. Use the Statement of Retained Earnings for Maxim, Inc., in the End-of-Chapter Summary Problem (pages 637– 638) as a model.
In P11-55B, the following information was taken from the records of Midler Cosmetics, Inc., at December 31,2014:


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  • CreatedJuly 25, 2014
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