E14-12 The Parisian Hotel Company, a large hotel chain, had retained earnings of $413 mil- lion at

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E14-12 The Parisian Hotel Company, a large hotel chain, had retained earnings of $413 mil- lion at the beginning of 20X7. The company showed these figures at December 31, 20X7: Net income Cash dividends-preferred common Decrease in retained earnings due to retirement of preferred stock Required (S Millions) $141 2 85 11 Beginning with net income. prepare a combined statement of income and retained earnings for The Parisian Hotel Company for 20X7.

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