The statement of retained earnings should be prepared

before the income statement and after the balance sheet
after the income statement and before the balance sheet
after the income statement and balance sheet
before the income statement and balance sheet

Expert Solution

The statement of retained earnings should be prepared after the income statement and before the balance sheet.

The net income(loss) from income statement is used to calculate ending balance of retained earnings.

Option B is correct

ekkarill92 answered 1 year ago

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