Retained Earnings Statement Dry Creek Cameras Inc. reported the following results for the year ended October 31, 2019: Retained earnings, November 1, 2048 $1,061,000 Net income 403,200 Cash dividends declared 49,000 Stock dividends declared 125,000 Prepare a retained earnings statement for the fiscal year ended October 31, 2019. Dry Creek Cameras Inc. Retained Earnings Statement For the Year Ended October 31, 2049 Retained Earnings, October 31, 2049 1,061,000 Net Income $ 403,200 Dividends Declared 49,000 Decrease in Retained Earnings 354,200 X Retained Earnings, October 31, 2049 1,415,200 Feedback