1. Prepare an income statement for the month ended December 31. 2. Prepare a statement of retained earnings for the month ended December 31. The retained earnings account balance at December 1 was $0. Hint: Use the net income calculated in part 1. 3. Prepare a balance sheet as of December 31. Hint: Use the ending retained earnings balance calculated in part 2.

forbearance of student loan payments. under forbearance, your loan payments are postponed (or reduced) but interest continues to accrue during the period of forbearance. if you don't pay the interest during that period, the interest may be “capitalized,” which means it is added to your principal balance.

true basically. have an awesome day ya'll.

credit history is used by lenders to determine whether you are a 'risky' person to give their money to.

having a short history provide very little data for the lenders. they wouldn't be able to determine your credit behavior from such a small samples. even if they are perfect.

having long credit history with few blemishes provide larger and more accurate data for the lenders to predict your credit behavior.