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Requirements 1. Record the transactions in the general journal. 2. Prepare a retained earnings statement for the year ended December 31, 2016. Assume Patrick's net

Requirements

1.	Record the transactions in the general journal.
2.	Prepare a retained earnings statement for the year ended December 31, 2016. Assume Patrick's net income for the year was $89,000.
3.	Prepare the stockholders' equity section of the balance sheet at December 31, 2016.

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Nov. 27 Cash Dividends Dividends PayableCommon Declared cash dividend

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