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Retained eamings statement

Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended December $31,20$ Y$3$:

Retained earnings, January $1,20Y3$

$$436,200$

Net income

$48,000$

Cash dividends declared

$8,600$

Stock dividends declared

$16,300$

Prepare a retained earnings statement for the year ended December $31,20Y3.$

Sumter Pumps Corporation

Retained Earnings Statement

For the Year Ended December $31,20Y3$

Line Item Description Amount Amount

$

$