Presented below is information related to Kevin and Johnson, Attorneys at Law.
|
Retained earnings, January 1, 2011 |
$ 23,000 |
|
Legal service revenue—2011 |
350,000 |
|
Total expenses—2011 |
211,000 |
|
Assets, January 1, 2011 |
85,000 |
|
Liabilities, January 1, 2011 |
62,000 |
|
Assets, December 31, 2011 |
168,000 |
|
Liabilities, December 31, 2011 |
85,000 |
|
Dividends—2011 |
79,000 |
Instructions
Prepare the 2011 retained earnings statement for Kevin and Johnson, Attorneys at Law.