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The following account balances were selected from the records of beverage maker Blake Corporation at December 31 after all adjusting entries were completed: Common stock

The following account balances were selected from the records of beverage maker Blake Corporation at December 31 after all adjusting entries were completed:

Common stock (par $15; authorized 100,000 shares, issued 26,000 shares, of which 1,100 shares are held as treasury stock) $ 390,000
Additional paid-in capitalcommon stock 171,000
Dividends 19,000
Retained earnings, beginning of year 67,000
Treasury stock at cost (1,100 shares) 22,000

Net income for the year was $34,500.

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. (Amounts to be deducted should be indicated by a minus sign.)

2.

Determine the number of shares of stock that received dividends.

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3.

Compute the ROE ratio for the current year, assuming total stockholders equity was $620,000 on December 31 of the previous year. (Round your answer to 1 decimal place.)

Required: 1-a. 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 01 1-b. Prepare the stockholders' equity section of the balance sheet at December 31. (Amounts to be deducted should be indicated by a minus sign.) BLAKE CORPORATION Balance Sheet (Excerpt) At December 31 Stockholders' Equity Contributed Capital Total Contributed Capital Total Total Stockholders' Equity

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