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Big Bluestem Inc. reported the following results for the year ending April 30: Retained earnings, May 1 $3,750,000 Net income 720,000 Cash dividends declared 80,000
Big Bluestem Inc. reported the following results for the year ending April 30:
| Retained earnings, May 1 | $3,750,000 |
| Net income | 720,000 |
| Cash dividends declared | 80,000 |
| Stock dividends declared | 220,000 |
| Required: | |
| Prepare a retained earnings statement for the fiscal year ended April 30. Be sure to complete the statement heading. Refer to the lists of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. Enter all amounts as positive numbers. Less or Plus will automatically appear if it is required. |
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Labels and Amount Descriptions
| Labels | |
| For the Year Ended April 30 | |
| Amount Descriptions | |
| Decrease in retained earnings | |
| Dividends declared | |
| Increase in retained earnings | |
| Net income | |
| Net loss | |
| Retained earnings, April 30 | |
| Retained earnings, May 1 |
| Big Bluestem Inc. |
| Retained Earnings Statement |
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