Retained Earnings Statement Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended January 31, 20Y2: Retained earnings, February 1, 20Y1 Net income Cash dividends declared Stock dividends declared $647,300 77,700 14,000 26,400 Prepare a retained earnings statement for the fiscal year ended January 31, 2012. Sumter Pumps Corporation Retained Earnings Statement For the Year Ended January 31, 20Y2 Retained Earnings, February 1, 20Y1 647,300 Net Income Dividends Declared Increase in Retained Earnings Retained Earnings, January 31, 20Y2 77,700 569,600 X 647,300 X 1,294,600 X