Question
Asked Feb 12, 2019

Please answer clearly and thoroughly
1) On the RE Statement it shows the Net Income, if there is a loss will it show Net Loss?
2) How do you configure the Net Income or Net Loss amount?

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Expert Answer

Step 1

Step1: Statement of retained earnings. We have,

Statement of retained earnings show the beginning balance of retained earnings and add any profit for the current year or subtract any loss for the current year and subtract any dividend paid during the year. After that r...

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