The Following Are Selected Data from a Large Company's Financial

Essay

The following are selected data from a large company's financial statements:
$\begin{array}{llcc} \text { Net income } & \text { \$ 12,400 million }\\ \text { Cash dividends } & \text { 2,000 million }\\ \text { Retained earnings, December 31,2013 }& \text { 8,500 million }\\\end{array}$
Identify the steps in the accounting cycle that must have been completed prior to determining these amounts.