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Crane was reviewing his company's activities at the end of the year (2022) and decided to prepare a retained earnings statement. At the beginning
Crane was reviewing his company's activities at the end of the year (2022) and decided to prepare a retained earnings statement. At the beginning of the year his assets were $600,000, liabilities were $122,000, and common stock was $120,000. The net income for the year was $335,000. Dividends of $217,000 were paid during the year. Prepare a retained earnings statement in good form. (List items that increase retained earnings first.) CRANE COMPANY Retained Earnings Statement A $
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