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Please, help with this Bancroft Corporation, a manufacturer of industrial pumps, reports the following results for the year ending October 31, 2014: Retained earnings, November
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Bancroft Corporation, a manufacturer of industrial pumps, reports the following results for the year ending October 31, 2014:
Retained earnings, November 1, 2013 | $379,700 |
Net income | 49,400 |
Cash dividends declared | 8,900 |
Stock dividends declared | 16,800 |
Prepare a retained earnings statement for the fiscal year ended October 31, 2014.
Bancroft Corporation Retained Earnings statement For the Year Ended october 31, 2014 Retained Earnings, November 49,400 8,900 Less Dividends Declared Increase in Retained Earnings Retained Earnings, October 3 379,700 58300 403400
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