Myron Corporation, a private company reporting under ASPE, had the following shareholders' equity accounts at December 31, 2019:

Common shares, 75,000 issued.................................................................... $300,000

Retained earnings.......................................................................................... 750,000

During 2020, the following events occurred:

1.On February 1, the company declared and paid a $0.50/share cash dividend.

2.On June 10, the company split the common shares two for one.

3.On December 1, the company declared and paid a $0.40/share cash dividend.

4.At December 31, the company reported a loss of $106,000 for the year.

Instructions:

(a)Pre. pare a Statement of Retained Earnings for the year ended December 31, 2020.

(b)If Myron Corporation was a publicly-traded corporation, would it still pre. pare a Statement of Retained Earnings? If not, what statement would it pre. pare instead?