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Novak Corporation has retained earnings of $711,100 at January 1, 2020. Net income during 2020 was $1,504,400, and cash dividends declared and paid during 2020

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Novak Corporation has retained earnings of $711,100 at January 1, 2020. Net income during 2020 was $1,504,400, and cash dividends declared and paid during 2020 totaled $82,400. Prepare a retained earnings statement for the year ended December 31, 2020. (List items that increase retained earnings first.) NOVAK CORPORATION Retained Earnings Statement TA $ > $

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