Net Income for 2020 Net Income for 2021 Dividends for 2020 Dividends for 2021 Total assets at the end of 2020 Total assets at the end of 2021 Required: On the basis of the data given, prepare a statement of retained earnings for both 2020 (its first year of operations) and 2021. 2020 Complete this question by entering your answers in the tabs below. 2021 $ 52,000 57,000 21,000 32,000 137,000 254,000 Retained Earnings, January 1, 2021 Add Net Income Less Dividends Retained Earnings. December 31, 2021 On the basis of the data given, prepare a statement of retained earnings for 2021. STONE CULTURE CORPORATION Statement of Retained Earnings S 168,000 57.000 32.000 S 254.000
Net Income for 2020 Net Income for 2021 Dividends for 2020 Dividends for 2021 Total assets at the end of 2020 Total assets at the end of 2021 Required: On the basis of the data given, prepare a statement of retained earnings for both 2020 (its first year of operations) and 2021. 2020 Complete this question by entering your answers in the tabs below. 2021 $ 52,000 57,000 21,000 32,000 137,000 254,000 Retained Earnings, January 1, 2021 Add Net Income Less Dividends Retained Earnings. December 31, 2021 On the basis of the data given, prepare a statement of retained earnings for 2021. STONE CULTURE CORPORATION Statement of Retained Earnings S 168,000 57.000 32.000 S 254.000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Net Income for 2020
Net Income for 2021
Dividends for 2020
Dividends for 20211
Total assets at the end of 2020
Total assets at the end of 2021
Required:
On the basis of the data given, prepare a statement of retained earnings for both 2020 (its first year of operations) and 2021.
2020
Complete this question by entering your answers in the tabs below.
2021
Retained Earnings, January 1, 2021
Add Net Income
$ 52,000
$7,000
21,000
32,000
On the basis of the data given, prepare a statement of retained earnings for 2021.
STONE CULTURE CORPORATION
Statement of Retained Earnings
Less Dividends
Retained Earnings. December 31, 2021
137,000
254,000
$
168,000
57,000
32,000
$ 254,000
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