Partial adjusted trial balance for ravine corporation at december 31, 2014, includes the following accounts: retained earnings $17,232; dividends $5,172; service revenue $37,692; salaries and wages expense $13,780; insurance expense $1,747; rent expense $4,009; supplies expense $1,500; and depreciation expense $869. the balance in retained earnings is the balance as of january 1. prepare a retained earnings statement for the year assuming net income is $15,787

Explanation:

Before preparing the retained earnings statement, first, we have to compute the ending balance of retained earning which is shown below:

The ending balance of retained earnings = Beginning balance of retained earnings + net income - dividend paid

= $17,232 + $15,787 - $5,172

= $27,847

The preparation of the retained earnings statement is presented in the spreadsheet. Kindly find the attachment below:

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

answer; risk transference;