At the end of the current fiscal year, ABC Corporation had the following balances: Assets $50,000 Beginning Retained $30,000 Earnings Dividends $ 5,000 Expenses $75,000 Liabilities $20,000 Revenues $90,000 Prepare the Statement of Retained Earnings. Winter Corp. Statement of Retained Earnings For the Year Ended 12/31/2020 X X Add: Net Income Subtotal Subtract: Dividends X X

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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At the end of the current fiscal year, ABC Corporation had the following balances:
Assets
$50,000
Beginning
Retained $30,000
Earnings
Dividends $ 5,000
Expenses $75,000
Liabilities $20,000
Revenues $90,000
Prepare the Statement of Retained Earnings.
Winter Corp.
Statement of Retained Earnings
For the Year Ended 12/31/2020
X
Add: Net Income
X
Subtotal
X
Subtract: Dividends
X
Transcribed Image Text:At the end of the current fiscal year, ABC Corporation had the following balances: Assets $50,000 Beginning Retained $30,000 Earnings Dividends $ 5,000 Expenses $75,000 Liabilities $20,000 Revenues $90,000 Prepare the Statement of Retained Earnings. Winter Corp. Statement of Retained Earnings For the Year Ended 12/31/2020 X Add: Net Income X Subtotal X Subtract: Dividends X
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