Financial Statement: It refers to the complete record of the financial transactions of the Company. It provides financial information to its users. Retained Earnings Statement: It is one of the financial statement, which shows the amount of the net income retained by a company at a particular point of time for reinvestment and pay its debts and obligations. It shows the amount of retained earnings that is not paid as dividends to the shareholders. To Prepare: A retained earnings statement for the year ended December 31, 2015.

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Chapter 4, Problem 4.2BPE

To determine

Financial Statement: It refers to the complete record of the financial transactions of the Company. It provides financial information to its users.

Retained Earnings Statement: It is one of the financial statement, which shows the amount of the net income retained by a company at a particular point of time for reinvestment and pay its debts and obligations. It shows the amount of retained earnings that is not paid as dividends to the shareholders.

To Prepare: A retained earnings statement for the year ended December 31, 2015.

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