Merian Company Has Just Completed Operations for the Year Ended

question 72

Essay

Merian Company has just completed operations for the year ended December 31, 2018. This is the second year of operations for the company. The following data have been assembled for the business at December 31, 2018.
$$\begin{array} { | l | r | r | r | } \hline \text { Accounts Payable } & \$ 12,200 & \text { Office Expense } & \$ 6,500 \\\hline \text { Accounts Receivable } & 14,500 & \text { Rent Expense } & 9,600 \\\hline \text { Cash } & 8,200 & \text { Retained Earnings, Jan. 1, 2018 } & 8,300 \\\hline \text { Common Stock } & 9,000 & \text { Salaries Expense } & 36,000 \\\hline \text { Dividends } & 13,500 & \text { Service Revenue } & 84,000 \\\hline \text { Equipment } & 15,000 & \text { Utilities Expense } & 6,200 \\\hline \text { Insurance Expense } & 4,000 & & \\\hline\end{array}$$ Prepare the statement of retained earnings for the year. Use a proper heading.

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Definitions:

Helper Role

The function or position of providing assistance or support to someone else, often in a professional context such as counseling or healthcare.

Subjective Mechanism

Subjective mechanism refers to processes or methods that are based on personal feelings, tastes, or opinions rather than objective facts or evidence.

Subsequent Actions

Activities, decisions, or measures taken following a particular event or as a continuation of a process already underway.

Projection

A psychological defense mechanism where individuals attribute their own unacceptable thoughts, feelings, or motives to another person.