Assume Year 1 is the company's first year of business and there were $100 dividends in Year 1 and $100 dividends in Year 2 .

 After determining the missing amounts ( $ ) in the below financial statements, calculate the December 31, Year 2 Retained Earnings. 

 

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Revenues Expenses Net Income Assets Liabilities Stock Retained Earnings For the year ended December 31, Year 2 December 31, Year 2 $12,500 $1,500 ? $16,500 1.$ ? $300 For the year ended December 31, Year 1 December 31, Year 1 $500 ? ? $1,000 $500 $300 $200 Revenues Expenses Net Income Assets Liabilities Stock Retained Earnings For the year ended December 31, Year 2 December 31, Year 2 $12,500 $1,500 ? $16,500 1.$ ? $300 For the year ended December 31, Year 1 December 31, Year 1 $500 ? ? $1,000 $500 $300 $200

Answer rating: 100% (QA)

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