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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 | $668,700 |
Net income | 100,300 |
Cash dividends declared | 18,100 |
Stock dividends declared | 34,100 |
Prepare a retained earnings statement for the year ended December 31, 20Y3.
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