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Make retained earnings statement for the year ended December

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Reference no: EM132742786

Problem - Retained earnings statement - Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended December 31, 20Y3:

Retained earnings, January 1, 20Y3 $59,650,000

Net income 8,160,000

Cash dividends declared 1,000,000

Stock dividends declared 2,600,000

Required - Make retained earnings statement for the year ended December 31, 20Y3.

Reference no: EM132742786

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