12. Use the following information for Bobert's Breakfasts Incorporated (BBI) on February 31, 2020 to complete:

a) A statement of Retained Earnings

b) A Partial Balance Sheet showing the shareholder's equity section only.

Opening Retained Earnings (Already Including re-acquisition of shares) $700 000

Net Income $150 000

Dividend $120 000

Share Capital Use Values from Question 11 INCLUDING THE RE-ACQUISITION

a) Statement of Retained Earnings (4C)

b) Partial Balance Sheet: Shareholder's Equity(5C)

Formatting example: Note, dont copy and paste from another format. It does not work well.

Income Statement

Boberts Breakfasts Incorporated

Feb 31 2020

Revenue 40,000

-CoGS (20,000)

Gross Profit 20,000