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Statement of Retained Earnings Use the following data to prepare a statement of retained earnings for Shepler Corporation. Total retained earnings originally reported at January
Statement of Retained Earnings
Use the following data to prepare a statement of retained earnings for Shepler Corporation.
| Total retained earnings originally reported at January 1 | $518,400 |
| Cash dividends declared during the year | 120,000 |
| Net income for the year | 308,800 |
| Stock dividends declared during the year | 48,000 |
| SHELPER CORPORATION Statement of Retained Earnings For the Year Ended December 31 | |||
|---|---|---|---|
| AnswerRetained Earnings, January 1Net IncomeCash Dividends DeclaredRetained Earnings, December 31 | $Answer | ||
| Add:AnswerRetained Earnings, January 1Net IncomeCash Dividends DeclaredRetained Earnings, December 31 | Answer | ||
| Less:AnswerRetained Earnings, January 1Net IncomeCash Dividends DeclaredRetained Earnings, December 31 | Answer | ||
| Stock Dividends Declared | Answer | Answer | |
| AnswerRetained Earnings, January 1Net IncomeCash Dividends DeclaredRetained Earnings, December 31 | $Answer | ||
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