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Fine Dining Room Inc. has a March 31 year end. Retained earnings at March 31, 2019 had a credit balance of $59,000. During the 2020
Fine Dining Room Inc. has a March 31 year end. Retained earnings at March 31, 2019 had a credit balance of $59,000. During the 2020 fiscal year, net income was $29,000 and dividends of $12,500 were declared and paid. During the 2021 fiscal year, Fine Dining Room Inc. had a net loss of $17,200 and dividends of $8,900 were declared but not yet paid. Prepare statements of retained earnings for Fine Dining Room Inc. as at March 31, 2020 and March 31, 2021. Do not enter dollar signs or commas in the input boxes. Do not use the negative sign for any values. Fine Dining Room Inc. Statement of Retained Earnings For the Year Ended March 31, 2020 Beginning Retained Earnings Add: Net Income Less: Cash Dividends Ending Retained Earnings Fine Dining Room Inc. Statement of Retained Earnings For the Year Ended March 31, 2021 Beginning Retained Earnings Less: Net Loss Less: Cash Dividends Ending Retained Earnings
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