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:

Error

The discrepancy between the actual measurement and its real value.

Mean Square

A statistical measure of the average of squared differences from the mean, used in various analyses like variance and ANOVA.

Treatments

In experiments, treatments are the conditions applied to subjects or groups to determine their effect on outcomes of interest.

Mean Square

A statistical measure used in variance and regression analysis, representing the average of the squares of the differences between observed and expected values.