C. Prepare a Retained Earnings Statement

D. Prepare the Stockholders' Equity

Retained Earnings Statement Prepare a retained earning matement for the year ended December 31, 2045. Assume that Morrow Enterprises had net income for the year ended December 31, 2015, of $1,162.500 Be sure to complete the statement heading. Refer to the chart of accounts and the lists of Labels and Amount Descriptions for the exact wording of text entries. A decrease to retained earnings should be entered as a negative amount Score: 12/57 Morrow Enterprises Retained Earnings Statement July 31, 20Y2 1 2 3 Dividends. Cash dividends 5 Stock dividends Instructions Morrow Enterprises Inc, manufactures bathroom fixtures. The stockholders' equity accounts of Morrow Enterprises Inc., with balances on January 1, 2045, are as follows: $7,980,000 877,800 Common stock, $20 stated value (500,000 shares authorized, 399,000 shares issued) Paid-In Capital in Excess of Stated Value-Common Stock Retained Earings Treasury Stock (22,500 shares, at a cost of $17 per share) 34,554,000 382,500 The following selected transactions occurred during the year: Jan Apr Jun. 6 Jul 22 Paid cash dividends of $0.07 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $26,355 10 Issued 73,000 shares of common stock for $23 per share Sold all of the treasury stock for $26 per share 5 Declared a 2% stock dividend on common stock, to be capitalized at the market price of the stock, which is $24 per share 15 Issued the certificates for the dividend declared on July 5. 23 Purchased 30,000 shares of treasury stock for $20 per share. 28 Declared a 50.09-per-share dividend on common stock. 31 Closed the two dividends accounts to Retained Earnings Aug Nov Dec d. Prepare the Stockholders Equity section of the December 31, 2035, balance sheet. Refer to the chart of accounts and the lists of Labels and Amount Descriptions for the exact wording of text entries. Forskere bees in which you must enter subtractive or negative numbers, use a mimur sign, Question not attempted Stockholders' Equity Score: 0/79 6 7 9