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Tentcoreportedthefollowingamountsinvariousstatementsincludedinits2016annualreport.(Allamountsare statedinmillionsofdollars.) Netincomefor2016 $142 Cashdividendsdeclaredin2016 15 Retainedearnings,December31,2015 $95 REQUIRED: (1)PrepareaStatementofretainedearningsfortheyearendedDecember31,2016. (2)AssumethatTentcopresentsastatementofstockholders'equityratherthanastatementofretainedearningsinits annualreport.Explainhowtheinformationdiffersbetweenthetwostatements

Tentcoreportedthefollowingamountsinvariousstatementsincludedinits2016annualreport.(Allamountsare statedinmillionsofdollars.) Netincomefor2016 $142 Cashdividendsdeclaredin2016 15 Retainedearnings,December31,2015 $95 REQUIRED: (1)PrepareaStatementofretainedearningsfortheyearendedDecember31,2016. (2)AssumethatTentcopresentsastatementofstockholders'equityratherthanastatementofretainedearningsinits annualreport.Explainhowtheinformationdiffersbetweenthetwostatements

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