On January 1, 20x8, the retained earnings account for Caldwell Company was as follows:

Retained Earnings------------------------$950,000

The following information related to Caldwell during the year 20x8:

Cash dividends declared $100,000

Cash dividends paid 50,000

Net loss for the year 150,000

Stock dividends declared 150,000

Stock sold for cash 100,000

Stock dividends issued 70,000

Bonds retired 90,000

Loss on bonds retired 5,000

REQUIRED: Using the form provided below, prepare the statement of retained earnings at December 31, 20x8.

Statement of Retained Earnings

Beginning balance-------------------------------

Add:

Deduct:

Ending balance