Statement of Shareholders Equity: In-Depth Explanation and Analysis
This is accomplished by subtracting from the beginning unappropriated retained earnings on line 6, Schedule M-2. The Internal Revenue Code determines taxable income, whereas book income is determined by applying generally accepted accounting principles (GAAP). Retained earnings encompass all earnings retained by the company, whether they come from core business operations, one-time windfalls, or investment …
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