Retained Earnings Statement Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended December 31, 20Y3: Retained earnings, January 1, 20Y3 $445,900 Net income 58,000 Cash dividends declared 10,400 Stock dividends declared 19,700 Prepare a retained earnings statement for the year ended December 31, 20Y3. Sumter Pumps Corporation Retained Earnings Statement For the Year Ended December 31, 20Y3 Sumter Pumps Corporation Retained Earnings Statement For the Year Ended December 31, 20Y3 Cash Net Income Retained earnings, December 31, 20Y3 Retained earnings, January 1, 20Y3

Retained Earnings Statement Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended December 31, 20Y3: Retained earnings, January 1, 20Y3 $445,900 Net income 58,000 Cash dividends declared 10,400 Stock dividends declared 19,700 Prepare a retained earnings statement for the year ended December 31, 20Y3. Sumter Pumps Corporation Retained Earnings Statement For the Year Ended December 31, 20Y3 Sumter Pumps Corporation Retained Earnings Statement For the Year Ended December 31, 20Y3 Cash Net Income Retained earnings, December 31, 20Y3 Retained earnings, January 1, 20Y3

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter12: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 12.7BE: Retained earnings statement Noric Cruises Inc. reported the following results for the year ended...

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Statement of Retained Earnings Landon Corporation was organized on January 2, 2014, with the investment of $100,000 by each of its two stockholders. Net income for its first year of business was $85,200. Net income increased during 2015 to $125,320 and to $145,480 during 2016. Landon paid $20,000 in dividends to each of the two stockholders in each of the three years. Required Prepare a statement of retained earnings for the year ended December 31, 2016.
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