Question: Using the information from Problem 2 8 prepare and complete a w
Using the information from Problem 2–8, prepare and complete a worksheet similar to Illustration 2A–1. Use the information in the worksheet to prepare an income statement and a statement of shareholders' equity for 2011 and a balance sheet as of December 31, 2011. Cash dividends paid to shareholders during the year amounted to $6,000. Also prepare the necessary closing entries assuming that adjusting entries have been correctly posted to the accounts.
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