ANSWERS TO QUESTIONS

(b) ANDERSON COOPER CO. Statement of Retained Earnings For the Year Ended December 31, 2007 Retained earnings, January 1 $11,310 Add: Net income 2,262 13,572 Less: Dividends 3,000 Retained earnings, December 31 $10,572 EXERCISE 3-11 (Continued) (c) ANDERSON COOPER CO. ................
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