The following account balances were selected from the records of beverage maker Blake Corporation at December 31 after a adjusting entries were completed: Common stock (par $15; authorized 180,000 shares, issued 43,000 shares, of which 1,200 shares are held as treasury stock) Additional paid-in capital-common stock Dividends Retained earnings, beginning of year Treasury stock at cost (1,200 shares) $645, eee 188,000 36,000 84,099 24,900 Net income for the year was $60,000. 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 $637,000 on December 31 of the pre year. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 Reg 3 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 Reg 1B > Req 1A Req 1B Reg 2 Reg 3 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 Tota Total Stockholders' Equity 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 $637,000 on December 31 of the previous year. Complete this question by entering your answers in the tabs below. Reg 1A Req 18 Reg 2 Reg 3 Determine the number of shares of stock that received dividends Number of Shares Required: 1-a. Prepare the statement of retained earnings for the vear 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 $637,000 on December 31 of the previous year. Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 2 Compute the ROE ratio for the current year, assuming total stockholders' equity was $637,000 on December 31 of the previous year. (Round your answer to 1 decimal place.) ROE Ratio
