On December 30, Odom Enterprises (OE) had $120,000 in cash, $35,000 in liabilities, $50,000 of common stock, and $35,000 in unrestricted retained earnings. On December 31, OE appropriated retained earnings in the amount of $15,000 for a future remodeling project.

Required
a. Record the December 31 appropriation in the following statements model:

b. Determine the amount of dividends that OE can pay immediately after the December 31 appropriation.
c. Determine the total amount of retained earnings immediately after the December 31 appropriation.
d. Determine the total amount of cash immediately after the December 31 appropriation.

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Balance Sheet Income Statement Statement of Cash Flows Exp. = Net Inc. Llab. Com. Stk. + App. Ret. Earn. Ret. Earn. Assets Rev.