In 2019 my net income is 56,000 under the equation NI=RE + DI how would that add up to $174,000

 

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Statement of Stockholders' Equity and Balance Sheet The following is balance sheet information for Flush Janitorial Service, Inc., at the end of 2019 and 2018: December 31, 2019 December 31, 2018 Accounts payable. $ 17,000 $ 18,000 44,000 62,000 92,000 520,000 77,000 Cash. 50,000 78,000 92,000 Accounts receivable Land. Building, net Equipment, net. Mortgage payable. Supplies 500,000 75,000 175,000 205,000 27,000 22,000 Common stock 420,000 20,000 420,000 Dividends . Retained earnings ? Required Prepare a balance sheet as of December 31 of each year. b. Prepare a statement of stockholders' equity for 2019. (Hint: The increase in retained earnings is equal to the net income less the dividend.) а. Statement of Stockholders' Equity and Balance Sheet The following is balance sheet information for Flush Janitorial Service, Inc., at the end of 2019 and 2018: December 31, 2019 December 31, 2018 Accounts payable. $ 17,000 $ 18,000 44,000 62,000 92,000 520,000 77,000 Cash. 50,000 78,000 92,000 Accounts receivable Land. Building, net Equipment, net. Mortgage payable. Supplies 500,000 75,000 175,000 205,000 27,000 22,000 Common stock 420,000 20,000 420,000 Dividends . Retained earnings ? Required Prepare a balance sheet as of December 31 of each year. b. Prepare a statement of stockholders' equity for 2019. (Hint: The increase in retained earnings is equal to the net income less the dividend.) а.

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Answer Req a Balance Sheet 310319 Balance Sheet 310318 Assets Assets Cash 50000 Cash 44000 Accounts ... View the full answer