The Following Are Selected Data from a Large Company's Financial

question 126

Essay

The following are selected data from a large company's financial statements:
$\begin{array}{lr}\text { Net income } & \$ 12,400 \text { million } \\\text { Cash dividends } & 2,000 \text { million } \\\text { Retained earnings, December 31, Year 1 } & 8,500 \text { million }\end{array}$
Identify the steps in the accounting cycle that must have been completed prior to determining these amounts.

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Definitions:

Social network

A structure made up of individuals or organizations called "nodes," which are connected by one or more types of interdependency, such as friendships, kinship, common interest, or relationships of beliefs, knowledge, or prestige.

Centrality

The importance, prominence, or influence of a certain point or element within a network or system.

Soccer league

Organized competitions of soccer (football) teams within specific regions or levels, ranging from amateur to professional play globally.

Tie strength

Describes the closeness and intimacy of relationships between individuals, ranging from weak ties like acquaintances to strong ties such as close family members.