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

Retained earnings, January 1, 20Y3	$59,650,000
Net income	8,160,000
Cash dividends declared	1,000,000
Stock dividends declared	2,600,000

Prepare a retained earnings statement for the year ended December 31, 20Y3. Be sure to complete the statement heading. Refer to the lists of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted negative numbers use a minus sign.

LabelsFor the Year Ended December 31, 20Y3December 31, 20Y3Amount DescriptionsChange in retained earningsDividendsExcess of issue price over parIssuance of additional common stockIssuance of additional preferred stockNet incomeNet lossRetained earnings, December 31, 20Y3Retained earnings, January 1, 20Y3

Prepare a retained earnings statement for the year ended December 31, 20Y3. Be sure to complete the statement heading. Refer to the lists of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted negative numbers use a minus sign.

Sumter Pumps Corporation

Retained Earnings Statement

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