The statement of retained earnings reports how the company's retained earnings balance changed from the beginning of the period to the end of the period

On the Statement of Activities ______.

Fill in the blank(s) with the appropriate word(s).

Lack of mutual agency is best described as which of the following?

A) The liabilities of the corporation cannot be extended to the personal assets of the stockholder. B) Shares of stock can be readily purchased and sold by investors on an organized stock exchange. C) Stockholders are not authorized to sign contracts or make business commitments on behalf of the corporation. D) Corporations pay income tax on corporate earnings, and shareholders pay income tax on corporate dividends.