Statement of Retained Earnings Landon Corporation was organized on January 2, 2015, with the investment of $70,000 by each of its two stockholders. Net income for its first year of business was $73,850. Net income increased during 2016 to $107,080 and to $125,280 during 2017. Landon paid $18,000 in dividends to each of the two stockholders in each of the three years. Required: Prepare a statement of retained earnings for the year ended December 31, 2017 Landon Corporation Statement of Retained Earnings For the Year Ended December 31, 2017 Retained earnings, January 1, 2017 Net Income for 2017 Dividends declared and paid Retained earnings, December 31, 2017 Feedback Y Check My Work 1) Calculate encing retained earnings balance for 2016. 2) Remember, the ending retained earnings balance for 2016 is the beginning retained earnings balance for 2017, and so forth 3) Prepare statement of retained earnings starting with the beginning balance in 2017. Previous Next Check My Work