need help with this retained earnings with ppa

5 of 6 Chapter 04 Homework - Statement of Retained Earnings Problem 4-07 Statement of retained earnings with PPA On January 1, 2020, Wade Corp. had retained earnings of $558,000. During 2020, Wade reported the following information: 1. Income from continuing operations: $1,210,000. 2. Wade increased its percentage of uncollectible accounts receivable from 5% in 2019 to 10% in 2020. The new percentage was used in calculating the current year's bad debt expense. 3. Wade discontinued operations of one of its subsidiaries at a loss of $190,000 before taxes. The disposal met the criteria for discontinued operations. 4. An audit discovered that amortization of intangible assets was understated by $40,000 in 2019. 5. Wade's income tax rate is 20% for both years. 6. Wade declared stock dividends of $48,000. Instructions: Prepare a statement of retained earnings. 6 of 3 of 6 752 words C Focus + 849