Sandusky Corporation, a manufacturer of industrial pumps, reports the following results for the year ending October 31,
Question:
Retained earnings, November 1, 2011...............$796,750
Net income........................... 215,000
Cash dividends declared..................... 15,000
Stock dividends declared....................... 30,000
Prepare a retained earnings statement for the fiscal year ended October 31, 2012.
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