Indian Point Kennels, Inc., earned net income in 2024 of ($10.78) million. The firm paid out ($1)
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Indian Point Kennels, Inc., earned net income in 2024 of \($10.78\) million. The firm paid out \($1\) million in cash dividends to its preferred stockholders and \($2.5\) million in cash dividends to its common stockholders. The firm ended 2023 with \($135.75\) million in retained earnings. Construct a statement of retained earnings to calculate the year-end 2024 balance of retained earnings.
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