Listed below are events that affect stockholders ' equity a Reported net income of $85,000 b Paid a cash dividend of $10,000 c Reported sales revenue of $120,000 d Issued common stock of $50,000 e Reported a net loss of $20,000 f Reported expenses of $35,000 Required For each of the events, indicate whether it increases retained earnings (I), decreases retained earnings (D), or has no effect on retained earnings (NE)

Question: Listed below are events that affect stockholders' equity. a. Reported net income of $85,000. b. Paid a cash dividend of $10,000. c. Reported sales revenue

Listed below are events that affect stockholders' equity.
a. Reported net income of $85,000.
b. Paid a cash of $10,000.
c. Reported sales revenue of $120,000.
d. Issued of $50,000.
e. Reported a net loss of $20,000.
f. Reported expenses of $35,000.
Required:
For each of the events, indicate whether it increases retained earnings (I), decreases retained earnings (D), or has no effect on retained earnings (NE).

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