[The following information applies to the questions displayed below.] Nelson Company experienced the following transactions during Year 1, its first year in operation. Acquired $12,000 cash by issuing common stock
Provided $4,600 of services on account
Paid $3,200 cash for operating expenses
Collected $3,800 of cash from customers in partial settlement of its accounts receivable
Paid a $200 cash dividend to stockholders
What is the balance of the retained earnings that will be reported on the balance sheet as of December 31, Year 1?
A. $1,000
B. $1,400
C. $13,200
D. $1,200
Answer: D
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Indicate whether the statement is true or false
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A) counseling with the protégé B) being a role model for the protégé C) helping the protégé "learn the ropes" D) solving problems for the protégé
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