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Pressure Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended January 31, 20Y2: Retained earnings, February 1, 20Y1 $29,842,000

Pressure Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended January 31, 20Y2:

Retained earnings, February 1, 20Y1 $29,842,000
Net income 4,082,000
Cash dividends declared 500,000
Stock dividends declared 1,301,000

Prepare a retained earnings statement for the fiscal year ended January 31, 20Y2.

Pressure Pumps Corporation Retained Earnings Statement For the Year Ended January 31, 20Y2

CashNet IncomeNet LossRetained Earnings, February 1, 20Y1Retained Earnings, January 31, 20Y2Retained Earnings, February 1, 20Y1

$Retained Earnings, February 1, 20Y1

CashNet IncomeNet LossRetained Earnings, February 1, 20Y1Retained Earnings, January 31, 20Y2Net Income

$Net Income

CashDividends DeclaredNet LossRetained Earnings, February 1, 20Y1Retained Earnings, January 31, 20Y2Dividends Declared

Dividends Declared

CashDecrease in Retained EarningsIncrease in Retained EarningsNet IncomeNet LossIncrease in Retained Earnings

Increase in Retained Earnings

CashDividends DeclaredNet IncomeRetained Earnings, February 1, 20Y1Retained Earnings, January 31, 20Y2Retained Earnings, January 31, 20Y2

$Retained Earnings, January 31, 20Y2

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