1. How should an income statement be dated: as of a particular day or for a particular period of time? Explain your answer. 2. Rogers Corporation starts the year with a Retained Earnings balance of...

1. How should an income statement be dated: as of a particular day or for a particular period of time? Explain your answer.

2. Rogers Corporation starts the year with a Retained Earnings balance of $55,000. Net income for the year is $27,000. The ending balance in Retained Earnings is $70,000. What was the amount of dividends for the year?