JohnleeJohnlee,

Inc. had beginning retained earnings of

$ 140 comma 000$140,000

on

JanuaryJanuary

1,

20182018.

During the year,

JohnleeJohnlee

declared and paid

$ 65 comma 000$65,000

of cash dividends and earned

$ 70 comma 000$70,000

of net income. Prepare a statement of retained earnings for

JohnleeJohnlee,

Inc. for the year ending

DecemberDecember

31,

20182018.

Enter any increases in retained earnings prior to the subtotal and any decreases to retained earnings below the subtotal.

Johnlee, Inc.

Statement of Retained Earnings

Year Ended December 31, 2018