Retained earnings statement

Instructions

Labels and Amount Descriptions

Retained Earnings Statement

Instructions

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

Retained earnings, February 1, 20Y1	$63,573,000
Net income	8,133,000
Cash dividends declared	1,050,000
Stock dividends declared	2,453,000

Prepare a retained earnings statement for the fiscal year ended January 31, 20Y2. Refer to the lists of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtractive or negative numbers use a minus sign. The word Less is not required.

Labels and Amount Descriptions

Labels
For the Year Ended January 31, 20Y2
January 31, 20Y2
Amount Descriptions
Decrease in retained earnings
Dividends declared
Excess of issue price over par
Increase in retained earnings
Issuance of additional common stock
Issuance of additional preferred stock
Net income
Net loss
Retained earnings, February 1, 20Y1
Retained earnings, January 31, 20Y2

Retained Earnings Statement

Prepare a retained earnings statement for the fiscal year ended January 31, 20Y2. Refer to the lists of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtractive or negative numbers use a minus sign. Enter all amounts as positive numbers. The word Less is not required.

Sumter Pumps Corporation

Retained Earnings Statement

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