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Problem 1-03A a1-a3 (Part Level Submission) On June 1, 2022, Ivanhoe Company was started with an initial investment in the co
Prepare a retained earnings statement for the month of June. (List Items that increase retained earnings first.) IVANHOE COMP
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Answer #1
INVANHOE COMPANY
Retained Earnings Statement
For Year Month Ended June 30, 2022
Retained Earnings, June 1 $0
Add: Net Income $4,510
$4,510
Less: Dividends $0
Retained Earnings, June 30 $4,510
Note: Dividend amount is not seen in question, if it in question then put that amount
and less with $4,510 will get Retained Earnings, June 30
Working
Net Income
($8,200 - $400 - $990 - $610 - $290 - $1,400)
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