Instructions Pressure Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended January 31, 20Y2: Retained earnings, February 1, 20Y1 $53,783,000 Net income 8,135,000 Cash dividends declared 980,000 Stock dividends declared 2,526.000 Required: Prepare a retained earnings statement for the fiscal year ended January 31, 20Y2. Be sure to complete the statement heading. Refer to the lists of Accounts, Labels, and Amount Descriptions provided for the exact wording of the answer choices for text entries. A decrease to retained earnings should be entered as a negative amount.
Instructions Pressure Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended January 31, 20Y2: Retained earnings, February 1, 20Y1 $53,783,000 Net income 8,135,000 Cash dividends declared 980,000 Stock dividends declared 2,526.000 Required: Prepare a retained earnings statement for the fiscal year ended January 31, 20Y2. Be sure to complete the statement heading. Refer to the lists of Accounts, Labels, and Amount Descriptions provided for the exact wording of the answer choices for text entries. A decrease to retained earnings should be entered as a negative amount.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Prepare a retained earnings statement for the fiscal year ended January 31, 20Y2. Be sure to complete the statement heading. Refer to the lists of Accounts, Labels, and Amount Descriptions provided for the exact wording of the answer
choices for text entries. A decrease to retained earnings should be entered as a negative amount.
Pressure Pumps Corporation
Retained Earnings Statement
(Label)
1
2
4
Transcribed Image Text:Instructions
(X
Pressure Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended January 31, 20Y2:
Retained earnings, February 1, 20Y1
$53,783,000
Net income
8,135.000
Cash dividends declared
980,000
Stock dividends declared
2,526,000
Required:
Prepare a retained earnings statement for the fiscal year ended January 31, 20Y2. Be sure to complete the statement heading. Refer to the lists
of Accounts, Labels, and Amount Descriptions provided for the exact wording of the answer choices for text entries. A decrease to retained
earnings should be entered as a negative amount.
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