Generalized Statement Instructions Accounts and Statements Retained Earnings Accounts Instructions Retained Earnings Accounts and Statement 1. Prepare journal entries for the transactions If an amount box does not require an entry, leave it blank. 2. Post all entries afecting the retained earnings accounts to T accounts. 3. Prepare a statement of retained earnings for the year ended December 31, 20- On January 1, 20-, Glover Company's retained earnings accounts had the following balances: Appropriated for land acquisition 54,000 Unappropriated retained earnings 949,000 $1,003,000 ring the year ended December 31, 20-, Glover completed the following selected transactions: Mar. 20 Declared a semiannual dividend of $0.8 per share on preferred stock and $0.2 per share on common stock to shan Apr. 15 Paid the cash dividends Oct. 10 Declared semiannual dividend of $0.8 per share on preferred stock and $0.2 per share on common stock to shareholders of record on Novem eholders of record on Apri 10, payable of $5 par common stock are outstanding payable on November 10