Retained earnings statement

Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended December $31,20Y3$ :

Retained earnings, January $1,20Y3$

$$524,800$

Net income

$78,700$

Cash dividends declared

Stock dividends declared

Prepare a retained earnings statement for the year ended December $31,20$ Y$3.$

Sumter Pumps Corporation

Retained Earnings Statement

For the Year Ended December $31,20Y3$

Line Item Description Amount Amount

$

$$

$