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Do It! Review 1-3 (Part Level Submission) Marsh Corporation began operations on January 1, 2014. The following information is available for Marsh Corporation on December 31, 2014 56.380 Comman ock 9690 Suppes 8990 Equpment 1490 Your answer is correct. Prepare an income statement for Marsh Corporation. MARSH CORPORATION Income Statement For the Year Ended December 31, 2014 Prepare a retained earnings statement for Marsh Corporation. (List items that increase retained earnings first.) MARSH CORPORATION Retained Earnings Statement For the Ycar Ended December 31, 2014 Click you would lik. to Show Work for this question: 9e
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Retained Earnings are the undistributed earnings of the Company since inception, the cumulative earnings that have not been paid out to the shareholders as dividend.

Marsh Corporation Income Statement For the vear ended 31st December 2014 Particulars Amount Amount Revenue Service Revenue $34,380 Less: Expenses Advertisement Expense Rent Expense Supplies Expense $4,490 $14,690 1,210 Total Expenses Net Income/(Loss) ($20,390 13,990 Marsh Corporation Statement of Retained Earnings For the year ended 31st December 2014 Particulars Balance as on 1st January 2014 Add: Income for the year Less: Dividend paid Balance as on 31st December 2014 Amount $0 $13,990 $6,800 Since, it is the first year of operation, the opening balance in retained earnings is nilMarsh Corporation Balance Sheet 31st July 2018 Amount Assets Current Assets Cash Accounts Receivable Supplies Liabilities Current Liabilities Accounts Payable Amount Amount Amount $7,790 $6,690 $6,590 $9,690 Total Current Assets 21.070 Total Current Liabilities 9,690 Notes Payable $16,380 Property Plant and Equipment Equipment $31,490 Shareholders Equity Common Stock Retained Earnin Total Shareholders Equi $19,690 6,800 26,490 Total Assets 52,560 Total Liabilities and Shareholders E 52,560

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