Statement of Retained Earnings Use the following data to prepare a statement of retained earnings for June Corporation.  Total retained earnings originally reported as of January 1 $347,000 Stock dividends declared during the year 25,000 Cash dividends declared during the year 40,000 Net income for the year 70,000

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Chapter1: Financial Statements And Business Decisions
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Statement of Retained Earnings

Use the following data to prepare a statement of retained earnings for June Corporation. 

Total retained earnings originally reported as of January 1 $347,000
Stock dividends declared during the year 25,000
Cash dividends declared during the year 40,000
Net income for the year 70,000
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