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As of December 31, 2014, Blue Haven Company had total assets of $100,000, total liabilities of $30,000, and common stock of $50,000. The company's 2014 income statement contained revenue of $16,000 and expenses of $11,000. The 2014 statement of changes in stockholder's equity stated that $2,000 of dividends were paid to investors.
• Retained earnings before closing?• Retained earnings after closing?• After closing balances? (Revenue, Expense, Dividend)
Explain in detail.
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