Question
The following account balances were selected from the records of beverage maker Blake Corporation at December 31, 2013, after all adjusting entries were completed: Common
The following account balances were selected from the records of beverage maker Blake Corporation at December 31, 2013, after all adjusting entries were completed:
Common stock (par $15; authorized 100,000 shares, issued 27,000 shares, of which 1,000 shares are held as treasury stock) $ 405,000 Additional paid-in capitalcommon stock 172,000 Dividends declared and paid in 2013 20,000 Retained earnings, January 1, 2013 68,000 Treasury stock at cost (1,000 shares) 20,000 Net income for the year was $36,000. Required: 1. Prepare the statement of retained earnings for the year ended December 31, 2013, and the stockholders equity section of the balance sheet at December 31, 2013.
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