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The Simpson Co. completed various transactions during its first month of operations in May. These included J.D. Simpson investing $43,000 for common stock, providing consulting services and collecting payments, paying expenses such as rent and salaries, purchasing office equipment, and paying dividends of $1,900. Financial statements were prepared including an income statement showing net income of $7,570, balance sheet, statement of retained earnings, and statement of cash flows.

Author

kenozin272

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EN