Danner Company Reported the Following Amounts in Its 2012 Annual

question 88

Essay

Danner Company reported the following amounts in its 2012 annual report. $\begin{array}{llcc} \text { Net income for 2012} & \$8,450 \\ \text { Dividends declared and paid in 2012 } &\underline{\quad?\quad}\\ \text { Retained earnings, December 31, 2011 } &82,000\\ \text { Retained earnings, December 31, 2012 } &90,000\\\end{array}$

Required:
Solve for dividends declared and paid in 2010 and prepare a statement of retained earnings for Danner Company for the year ended December 31,2010.(Include the proper heading. )

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Definitions:

Club Sponsor

An individual or organization that provides support, often financial, to a club, usually in exchange for advertising or promotional benefits.

Revenue Management

A strategy to predict consumer behavior at the market level and optimize product availability and price to maximize revenue growth.

Seasonal Peaks

Times of the year when demand for a product or service is significantly higher than usual, often due to factors like holidays or weather.

Wasted Capacity

The portion of production capability or resources that goes unused or is not effectively utilized.