Question
Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended December 31, 20Y3: Line Item Description Amount Retained earnings,
Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended December 31, 20Y3:
| Line Item Description | Amount |
|---|---|
| Retained earnings, January 1, 20Y3 | $497,300 |
| Net income | 59,700 |
| Cash dividends declared | 10,700 |
| Stock dividends declared | 20,300 |
Prepare a retained earnings statement for the year ended December 31, 20Y3.
| Line Item Description | Amount | Amount |
|---|---|---|
| CashChange in retained earningsNet IncomeRetained earnings, December 31, 20Y3Retained earnings, January 1, 20Y3 | $- Select - | |
| CashChange in retained earningsNet IncomeRetained earnings, December 31, 20Y3Retained earnings, January 1, 20Y3 | $- Select - | |
| CashChange in retained earningsDividendsRetained earnings, December 31, 20Y3Retained earnings, January 1, 20Y3 | - Select - | |
| CashChange in retained earningsNet IncomeRetained earnings, December 31, 20Y3Retained earnings, January 1, 20Y3 | - Select - | |
| CashDividendsNet IncomeRetained earnings, December 31, 20Y3Retained earnings, January 1, 20Y3 | $- Select - |
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Managerial Accounting Tools For Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
9th Edition
111970958X, 9781119709589
