income statement and statement of retained earnings
Benford Company uses a periodic inventory system and presents the following items derived from its December 31, 2016, adjusted trial balance: Operating Expenses $39,380 Dividend Revenue 1,100 Retained Earnings, January 1, 2016 75,570 Sales (net) 153,560 Common Stock, $15 par 49,500 Merchandise Inventory, January 1, 2016 26,400 Purchases (net) 87,120 The following information is also […]