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The following account balances were selected from the records of beverage maker Blake Corporat after all adjusting entries were completed: Common stock (par $15; authorized
The following account balances were selected from the records of beverage maker Blake Corporat after all adjusting entries were completed: Common stock (par $15; authorized 100,000 shares, issued 35,000 shares, of which 1,000 shares are held as treasury stock) Additional paid-in capital-common stock Dividends Retained earnings, beginning of year Treasury stock at cost (1,000 shares) $525,000 180,000 28,000 76,000 20,000 Net income for the year was $48,000. Required: 1-a. Prepare the statement of retained earnings for the year ended December 31. 1-b. Prepare the stockholders' equity section of the balance sheet at December 31. 2. Determine the number of shares of stock that received dividends. 3. Compute the ROE ratio for the current year, assuming total stockholders' equity was $629,000 the previous year. Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Reg 2 Req3 Prepare the statement of retained earnings for the year ended December 31. BLAKE CORPORATION Statement of Retained Earnings For the Year Ended December 31 Retained Earnings, January 1 Retained Earnings, December 31
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