Use the data in P11-48A to prepare the Ryder Cosmetics statement of retained earnings for the year ended December 31, 2014.
In P11-48A, the following information was taken from the records of Ryder Cosmetics, Inc., at December 31, 2014:

Use the Statement of Retained Earnings for Maxim, Inc., in the End-of-Chapter Summary Problem on pages 637€“638 as a model.

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.. 38,000 23,000 Prior-period adjustment-net of taxes Dividends on common stock $ 8,400 Interest expense Income tax expense (savings) Continuing operations40,300 Dividend revenuc13,000 Income from discontinued Treasury stock, common (3,000 shares at cot 15,000 71,900 Loss on salc of plant assets11,000 Sales revenuc603,000 4,600 Extraordinary loss.(8,570) General expenscs... Incomc from discontinued Retained carnings, beginning, operations.14,000 as originally reported. 201,000 Selling expenses " … 82,000 Preferred stock, 8%, $30 par, 3,000 shares issued 29,000 Cost of goods sold..294,000 Extraordinary los 26,000 shares authorizcd and issued. 360,000