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You are the accountant for Kamal Fabricating, Inc. and you oversee the preparation of financial statements for the year just ended 6/30/2020. You have the
You are the accountant for Kamal Fabricating, Inc. and you oversee the preparation of financial statements for the year just ended 6/30/2020. You have the following information from the company's general ledger and other financial reports (all balances are end-of-year except for those noted otherwise): CashCommonstockAccountsreceivableAccountspayableCashdividendsdeclaredfortheyearAdditionalpaid-incapitalPrepaidinsurancePriorperiodadjustment,netofincometaxesUnearnedrevenueRetainedearnings,beginningoftheyearNetincomefortheyear$12,0008,0007,0002,0002,0003,0005,000(2,000)4,0006,0009,000 Prepare the company's Statement of Retained Earnings
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