Question
Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following re- sults for the year ended January 31, 2016: Retained earnings, February 1, 2015
Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following re- sults for the year ended January 31, 2016:
Retained earnings, February 1, 2015 ............................ $59,650,000
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,160,000
Cash dividends declared ................................................ 1,000,000
Stock dividends declared ............................................... 2,600,000
Prepare retained earnings statement for the fiscal year ended January 31, 2016.
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Essentials Of Forensic Accounting
Authors: Michael A Crain, William S Hopwood
2nd Edition
1948306441, 978-1948306447
