The following information for Kellman Inc is available at the end of 2019 Total assets on 12 31 2018 $82,400 Common stock on 12 31 2018 $50,000 Total assets on 12 31 2019 88,500 Common stock on 12 31 2019 50,000 Total liabilities on 12 31 2018 9,200 Net income for 2019 19,500 Total liabilities on 1...

From the information given in the problem and the fundamental accoun ...

The following information for Kellman Inc. is available at the end of 2019. Total assets on 12/31/2018......

Question:

The following information for Kellman Inc. is available at the end of 2019.
Total assets on 12/31/2018...... $82,400... on 12/31/2018...... $50,000
Total assets on 12/31/2019...... 88,500 ..... on 12/31/2019......50,000
Total liabilities on 12/31/2018... 9,200...... Net income for 2019 ...............19,500
Total liabilities on 12/31/2019....11,300
Required:
Calculate the amount of dividends reported on the retained earnings statement for 2019.
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...