Statement of retained earnings-statement of owner equity

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Reference no: EM131498776

For year ended 12/31/10, Firm H sold 100,000 units of product at a price of $10 per unit. The Gross Margin was 70% and S,G &A was 10% of Sales. Year- End Debt was 1,000,000 on which a 10% interest rate is paid for the year. The after -Tax Rate is 80% and the Dividends payout rate is 60%. As of 12/31/2010, Assets totaled $ 7,000,000. Year 2010 was the firm's first year of operations.

Please can you help with the following

Income Statement

Statement of Retained Earnings

Statement of Owner's Equity

Reference no: EM131498776

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