Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended December 31, 20Y3: Line Item Description Amount Retained earnings, January 1, 20Y3 $494,900 Net income 74,200 Cash dividends declared 13,400 Stock dividends declared 25,200 Prepare a retained earnings statement for the year ended December 31, 20Y3.

Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended December 31, 20Y3: Line Item Description Amount Retained earnings, January 1, 20Y3 $494,900 Net income 74,200 Cash dividends declared 13,400 Stock dividends declared 25,200 Prepare a retained earnings statement for the year ended December 31, 20Y3.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Line Item Description	Amount
Retained earnings, January 1, 20Y3	$494,900
Net income	74,200
Cash dividends declared	13,400
Stock dividends declared	25,200

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