Instructions Pressure Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended January 31, 20Y2: Retained earnings, February 1, 20Y1 $53,783,000 Net income 8,135,000 Cash dividends declared 980,000 Stock dividends declared 2,526.000 Required: Prepare a retained earnings statement for the fiscal year ended January 31, 20Y2. Be sure to complete the statement heading. Refer to the lists of Accounts, Labels, and Amount Descriptions provided for the exact wording of the answer choices for text entries. A decrease to retained earnings should be entered as a negative amount.

Instructions Pressure Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended January 31, 20Y2: Retained earnings, February 1, 20Y1 $53,783,000 Net income 8,135,000 Cash dividends declared 980,000 Stock dividends declared 2,526.000 Required: Prepare a retained earnings statement for the fiscal year ended January 31, 20Y2. Be sure to complete the statement heading. Refer to the lists of Accounts, Labels, and Amount Descriptions provided for the exact wording of the answer choices for text entries. A decrease to retained earnings should be entered as a negative amount.

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter4: Accounting For Retail Operations

Section: Chapter Questions

Problem 4.4.2P: Multiple-step income statement and report form of balance sheet The following selected accounts and...

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