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Net income of a corporation should be closed to retained earnings

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Net income of a corporation should be closed to retained earnings 1. A 10% stock dividend will increase the number of shares outstanding but the book value per share will decrease. 2. A 3-for-1 common stock split will increase total stockholders’ equity but reduce the par or stated value per share of common stock. 3. Retained earnings represents the amount of cash available for dividends. 4. Net income of a corporation should be closed to retained earnings and net losses should be closed to paid-in capital accounts. 5. A debit balance in the Retained Earnings account is identified as a deficit. Business Assignment Help, Business Homework help, Business Study Help, Business Course Help

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