After establishing their companys fiscal year end to be October 31, Natalie and Curtis begin operating Cookie Coffee Creations Inc on November 1, 2022 On that date, after the issuance of shares, the paid in capital section of the companys balance sheet is as follows Paid in capital Preferred stock, $0 50 noncumulative, no par value, 9,000 shares authorized, 1,800 issued $9,000 Common stock, no par value, 90,000 shares authorized, 23,339 issued 23,339 Cookie Coffee Creations then has the following selected transactions during its first year of operations 2022 Dec 1 Issues an additional 720 preferred shares to Natalies brother for $3,600 2023 Apr 30 Declares a semiannual dividend to the preferred stockholders of record on May 15, payable on June 1 June 30 Repurchases 675 shares of common stock issued to the lawyer, for $450 Recall that these were originally issued for $675 The lawyer had decided to retire and wanted to liquidate all of her assets Oct 31 The company has had a very successful first year of operations It earned revenues of $416,250 and incurred operating expenses of $333,000 (including $765 legal fee, but excluding income tax) 31 Records income tax expense (The company has a 20 income tax rate ) 31 Declares a semiannual dividend to the preferred stockholders of record on November 15, payable on December 1 B Prepare the statement of retained earnings for the year C Prepare the stockholders equity section of the balance sheet as of October 31, 2023 D Prepare closing entries for net income and cash dividends (b) Prepare the statement of retained earnings for the year (List items that increase retained earnings first If answer is zero, please enter O, do not leave any field blank ) COOKIE COFFEE CREATIONS INC Statement of Retained Earnings $ Prepare the stockholders' equity section of the balance sheet as of October 31, 2023 (Enter account name only and do not provide descriptive information ) COOKIE COFFEE CREATIONS INC Balance Sheet (Partial) Stockholders' Equity $ 4 $ ( d) Prepare closing entries for net income and cash dividends (Credit account titles are automatically indented when amount is entered Do not indent manually If no entry is required, select No Entry for the account titles and enter O for the amounts Record journal entries in the order displayed in the problem statement ) Date Account Titles and Explanation Debit Credit (To close net income (loss)) (To close Cash Dividends to Retained Earnings)

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After establishing their companys fiscal year-end to be October 31, Natalie and Curtis begin operating Cookie & Coffee Creations Inc. on November 1, 2022. On

After establishing their companys fiscal year-end to be October 31, Natalie and Curtis begin operating Cookie & Coffee Creations Inc. on November 1, 2022. On that date, after the issuance of shares, the paid-in capital section of the companys balance sheet is as follows.

Paid-in capital
Preferred stock, $0.50 noncumulative, no par value,
9,000 shares authorized, 1,800 issued		$9,000
Common stock, no par value, 90,000 shares
authorized, 23,339 issued		23,339

Cookie & Coffee Creations then has the following selected transactions during its first year of operations.

2022
Dec. 1		Issues an additional 720 preferred shares to Natalies brother for $3,600.
2023
Apr. 30		Declares a semiannual dividend to the preferred stockholders of record on May 15, payable on June 1.
June 30		Repurchases 675 shares of common stock issued to the lawyer, for $450. Recall that these were originally issued for $675. The lawyer had decided to retire and wanted to liquidate all of her assets.
Oct. 31		The company has had a very successful first year of operations. It earned revenues of $416,250 and incurred operating expenses of $333,000 (including $765 legal fee, but excluding income tax).
31		Records income tax expense. (The company has a 20% income tax rate.)
31		Declares a semiannual dividend to the preferred stockholders of record on November 15, payable on December 1.

B. Prepare the statement of retained earnings for the year.

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C. Prepare the stockholders equity section of the balance sheet as of October 31, 2023

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D. Prepare closing entries for net income and cash dividends.

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(b) Prepare the statement of retained earnings for the year. (List items that increase retained earnings first. If answer is zero, please enter O, do not leave any field blank.) COOKIE & COFFEE CREATIONS INC. Statement of Retained Earnings : $ Prepare the stockholders' equity section of the balance sheet as of October 31, 2023. (Enter account name only and do not provide descriptive information.) COOKIE & COFFEE CREATIONS INC. Balance Sheet (Partial) Stockholders' Equity $ 4 $ ( d) Prepare closing entries for net income and cash dividends. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order displayed in the problem statement.) Date Account Titles and Explanation Debit Credit (To close net income / (loss)) (To close Cash Dividends to Retained Earnings)