Data for Madison Realty Are as Follows Madison Realty Paid Dividends of $30,000 During 2014

question 210

Essay

Data for Madison Realty are as follows:
$\begin{array}{|l|r|}\hline \text { Total assets at December 31, 2013 } & \$ 100,000 \\\hline \text { Total liabilities at December 31, 2013 } & 35,000 \\\hline \text { Total revenues 2014 } & 79,000 \\\hline \text { Total expenses for 2014 } & 47,000 \\\hline \text { Common stock at December 31, 2013 } & 20,000 \\\hline\end{array}$
Madison Realty paid dividends of $30,000 during 2014.From the above data,prepare Madison Realty's statement of retained earnings for the year ended December 31,2014.

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Singular-System Approach

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