Jarvis began operations on January 1, Year 1 and its Retained Earnings balance on that date was $0 In its first two years of operations, it reported the following at its December 31 year-end. Year 1 Year 2 Net income $ 30,300 $ 50,500 Dividends $ 8,880 $ 14,140 (a) Prepare the statement of retained earnings for Year 1 at its December 31 year end. (b) Prepare the statement of retained earnings for Year 2 at its December 31 year end. Complete this question by entering your answers in the tabs below. Required A Required B Prepare the statement of retained earnings for Year 1 at its December 31 year end, JARVIS Statement of Retained Earnings For Year Ended December 31, Year 1 Accounts payable Required A Required B Prepare the statement of retained earnings for Year 1 at its December 31 year end. JARVIS Statement of Retained Earnings For Year Ended December 31, Year 1 Accounts payable Accounts receivable Cash Consulting fees earned Equipment Required B > Land Required A Required B Prepare the statement of retained earnings for Year 1 at its December 31 year end. JARVIS Statement of Retained Earnings For Year Ended December 31. Year 1 5 Land Miscellaneous expenses Rent expense Retained earnings, December 31, Year 1 Retained earnings, January 1, Year 1 Required B > calor nunnen Required A Required B Prepare the statement of retained earnings for Year 1 at its December 31 year end. JARVIS Statement of Retained Earnings For Year Ended December 31, Year 1 Retained earnings, December 31, Year 1 Retained earnings, January 1, Year 1 Salaries expense Supplies Required B > Telephone expense Required A Required B Prepare the statement of retained earnings for Year 1 at its December 31 year end. JARVIS Statement of Retained Earnings For Year Ended December 31, Year 1 Add: Net loss Add: Net income ce Add: Dividends Required B > Required A Required B Prepare the statement of retained earnings for Year 1 at its December 31 year end. JARVIS Statement of Retained Earnings For Year Ended December 31, Year 1 Less: Dividends NA Required B Less: Net income Less: Net loss Required A Required B Prepare the statement of retained earnings for Year 1 at its December 31 year end. JARVIS Statement of Retained Earnings For Year Ended December 31, Year 1 Required B > Accounts payable Accounts receivable Cash Consulting fees earned Required A Required B Prepare the statement of retained earnings for Year 2 at its December 31 year end. JARVIS Statement of Retained Earnings For Year Ended December 31. Year 2 Show All Items
