Tamarisk Corporation began operations on January 1, 2014. During its first 3 years of operations, Tamarisk reported net income and declared dividends as follows.

Net income Dividends declared 2014 $46,100 $ 0 2015 129,900 57,900 2016 168,500 52,200

The following information relates to 2017.

Income before income tax $247,300 Prior period adjustment: understatement of 2015 depreciation expense (before taxes) $26,100 Cumulative decrease in income from change in inventory methods (before taxes) $40,000 Dividends declared (of this amount, $26,100 will be paid on January 15, 2018) $110,100 Effective tax rate 40 %

Prepare a 2017 retained earnings statement for Tamarisk Corporation. (List items that increase retained earnings first.)

TAMARISK CORPORATION Retained Earnings Statement

$

:

:

$

Link to Text

Assume Tamarisk Corporation restricted retained earnings in the amount of $64,110 on December 31, 2017. After this action, what would Tamarisk report as total retained earnings in its December 31, 2017, balance sheet?

Total retained earnings $

Tamarisk Corporation began operations on January 1, 2014. During its first 3 years of operations, Tamarisk reported net income and declared dividends as follows.

		Net income			Dividends declared
2014		$46,100			$ 0
2015		129,900			57,900
2016		168,500			52,200

The following information relates to 2017.

Income before income tax		$247,300
Prior period adjustment: understatement of 2015 depreciation expense (before taxes)		$26,100
Cumulative decrease in income from change in inventory methods (before taxes)		$40,000
Dividends declared (of this amount, $26,100 will be paid on January 15, 2018)		$110,100
Effective tax rate		40	%

Prepare a 2017 retained earnings statement for Tamarisk Corporation. (List items that increase retained earnings first.) TAMARISK CORPORATION Retained Earnings Statement

$

:

:

$ Link to Text

Assume Tamarisk Corporation restricted retained earnings in the amount of $64,110 on December 31, 2017. After this action, what would Tamarisk report as total retained earnings in its December 31, 2017, balance sheet?

Total retained earnings

$