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E1-16 Presented below is information related to Kevin and Johnson, Attorneys at Law.

Price: $1.99


E1-16 Presented below is information related to Kevin and Johnson, Attorneys at Law.

Retained Earnings, January 1, 2008  23,000
Legal service revenue -2008   350,000
Total expenses - 2008   211,000
Assets, January 1, 2008   85,000
Liabilities, January 1, 2008   62,000
Assets, December 31, 2008   168,000
Liabilities, December 31, 2008   85,000
Dividends - 2008  79,000

Instructions:
Prepare the 2008 retained earnings statement for Kevin and Johnson, Attorneys at Law.

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