On its 2008 balance sheet, Sherman Books showed a balance of retained earnings equal to $510 million. On its 2009 balance sheet, the balance of retained earnings was also equal to $510 million. Which of the following statements is most correct?

a. The company must have had net income equal to zero in 2009.
b. The company did not pay a dividend in 2009.
c. If the company's net income in 2009 was $200 million, dividends paid must have also equaled $200 million.
d. If the company lost money in 2009, they must have paid a dividend.
e. None of the statements above is correct.

Jordan, inc. sells fireworks. the company’s marketing director developed the following cost of goods sold budget for april, may, june, and july. april may june july budgeted cost of goods sold $62,000 $72,000 $82,000 $88,000 jordan had a beginning inventory balance of $3,000 on april 1 and a beginning balance in accounts payable of $14,600. the company desires to maintain an ending inventory balance equal to 15 percent of the next period’s cost of goods sold. jordan makes all purchases on account. the company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percent in the month following purchase. required prepare an inventory purchases budget for april, may, and june. determine the amount of ending inventory jordan will report on the end-of-quarter pro forma balance sheet. prepare a schedule of cash payments for inventory for april, may, and june. determine the balance in accounts payable jordan will report on the end-of-quarter pro forma balance sheet.

Which feature is a characteristic of a corporation?

The servers at gerry frasier's busy ice cream shop decided that putting more ice cream in the sundaes and cones would bring back more customers. after three months, gerry was surprised to discover that his profit had