retained earnings statement
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Retained Earnings Statement
Willow Wanderer Cameras Inc. reported the following results for the year ended October 31, 20Y9:
Retained earnings, November 1, 20Y8
$2,331,000
Net income
979,000
Cash dividends declared
85,000
Stock dividends declared
219,000
Prepare a retained earnings statement for the fiscal year ended October 31, 20Y9.
Willow Wanderer Cameras Inc.
Retained Earnings Statement
For the Year Ended October 31, 20Y9
%24
Expert Solution
Retained Earnings
Retained Earnings is a part of shareholders' equity to be reported under the Liabilities and Shareholders' equity section of the balance sheet.
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