Statements of Retained Earnings The table below presents the statements of retained earnings for Labelle Corporation for 3 successive years. Certain numbers are missing. Required: Use your understanding of the relationship between successive statements of retained earnings to calculate the missing values.   2020 2021 2022 Retained earnings, beginning $fill in the blank 1   $20,850   $28,100   Add: Net income 11,100   fill in the blank 2   9,500     $28,250   $fill in the blank 3   $fill in the blank 4   Less: Dividends (7,400)   (5,200)   (fill in the blank 5)   Retained earnings, ending $fill in the blank 6   $fill in the blank 7   $34,100

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Statements of Retained Earnings

The table below presents the statements of retained earnings for Labelle Corporation for 3 successive years. Certain numbers are missing.

Required:

Use your understanding of the relationship between successive statements of retained earnings to calculate the missing values.

  2020 2021 2022
Retained earnings, beginning $fill in the blank 1   $20,850   $28,100  
Add: Net income 11,100   fill in the blank 2   9,500  
  $28,250   $fill in the blank 3   $fill in the blank 4  
Less: Dividends (7,400)   (5,200)   (fill in the blank 5)  
Retained earnings, ending $fill in the blank 6   $fill in the blank 7   $34,100  
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