the assets and liabilities of hd radio corporation as of december 31 20×8 and revenu 4374955

The assets and liabilities of HD Radio Corporation as of December 31, 20X8, and revenues and expenses for the year ended on that date follow. Beginning retained earnings were $10,000, and dividends totaled $50,000 for the year. Required 1. Prepare the income statement of HD Radio Corporation for the year ended December 31, 20X8. 2. Prepare HD Radio’s statement of retained earnings for the year. 3. Prepare HD Radio’s balance sheet at December 31, 20X8. 4. Analyze HD Radio Corporation by answering these questions: (Challenge) a. Was HD Radio profitable during 20X8? By how much? b. Did retained earnings increase or decrease? By how much? c. Which is greater, total liabilities or total equity? Who owns more of HD Radio’s assets, creditors of the company or the HD Radio stockholders? View Solution:
The assets and liabilities of HD Radio Corporation as of

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