Financial reporting of losses and retained earnings.
A recent annual report of Dobbs, Inc., reported a net loss of approximately $63 million and retained earnings of approximately $1.6 billion.
(a) Which financial statement shows computation of the $63 million loss?
(b) Which financial statement includes the retained earnings figure of $1.6 billion?
(c) Explain how it is possible for Dobbs to report both a loss of $63 million and retained earnings of $1.6 billion in a single set of financial statements.

Question

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The Answer of Financial reporting of losses and retained earnings.
A recent annual report of Dobbs, Inc., reported a net loss of approximately $63 million and retained earnings of approximately $1.6 billion.
(a) Which financial statement shows computation of the $63 million loss?
(b) Which financial statement includes the retained earnings figure of $1.6 billion?
(c) Explain how it is possible for Dobbs to report both a loss of $63 million and retained earnings of $1.6 billion in a single set of financial statements.

Financial Reporting of Losses and Retained Earnings