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v2.cengagenow.com CengageNOWv2 | Online teaching and.. Principles- abook - Health & Wellness Principles-powerpoint - Health & Well. ACCT 2101-C - Sterwart, Kyle Jonathon Ch 2 Discussion . Health & Wellnwas . Chapter 02 Homework (Application) eBook Calculator EX.02.05 Statement of Retained Earnings PR.02.03.ALGO Landon Corporation was organized on January 2, 2015, with the investment of $120,000 by each of its two stockholders. Net income for its first year of business was $72,860. Net income increased during 2016 to $104,920 and to $122,760 during 2017. Landon paid $17,000 in dividends to each of the two stockholders in each of the three years. EX.02.12 Required: EX.02.07.ALGO Prepare a statement of retained earnings for the year ended December 31, 2017. EX.02.03 Landon Corporation Statement of Retained Earnings EX.02.09.ALGO For the Year Ended December 31, 2017 Retained earnings, January 1, 2017 y PR.02.07.ALGO Net income for 2017 y 122,760 V EX.02.14.ALGO Dividends declared and paid 34,000 PR.02.04 Retained earnings, December 31, 2017 v PR.02.05 Check My Work 1) Calculate ending retained earnings balance for 2016. 2) Remember, the ending retained earnings balance for 2016 is the beginning retained earnings balance for 2017, and so forth. 3) Prepare statement of retained earnings starting with the beginning balance in 2017. rogress: 6/10 items Check My Work ignment Score: 57.5% Previous Next All work saved. Save and Exit Submit Assignment for Grading