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    ACCT212_WorkingPapers_E1-22A, Learning Objective 4: Preparing an income statement and a statement of retained earnings. This exercise should be used with Exercise 1-21A. Refer to the data of Ellen Samuel Banking Company in Exercise 1-21A.

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    ACCT212_WorkingPapers_E1-22A.xlsx

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    ACCT212_WorkingPapers_E1-22A, Learning Objective 4: Preparing an income statement and a statement of retained earnings. This exercise should be used with Exercise 1-21A. Refer to the data of Ellen Samuel Banking Company in Exercise 1-21A.

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    46 views1 page

    ACCT212 WorkingPapers E1-22A

    Uploaded by

    lowluder
    ACCT212_WorkingPapers_E1-22A, Learning Objective 4: Preparing an income statement and a statement of retained earnings. This exercise should be used with Exercise 1-21A. Refer to the data of Ellen Samuel Banking Company in Exercise 1-21A.

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    of 1

    FINANCIAL ACCOUNTING - Eighth Edition E 1-22A (15-25 min.

    Solutions Manual

    Learning Objective 4: Preparing an income statement and a statement of retained earnings This exercise should be used with Exercise 1-21A. Refer to the data of Ellen Samuel Banking Company in Exercise 1-21A. 1. Prepare the income statement of Ellen Samuel Banking Company, for the year ended January 31, 2010. What amount of dividends did Ellen Samuel declare during the year ended January 31, 2010? Hint: Prepare a statement of retained earnings.

    2.

    Solution: Req. 1 Ellen Samuel Banking Company Income Statement (Amounts in millions ) Year Ended January 31, 2010

    Req. 2

    Chapter 1: The Financial Statements

    Page 1 of 1

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