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Prepare a retained earnings statement for the fiscal year

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Reference no: EM131128261

Hornblower Cruises Inc. reported the following results for the year ending October 31, 2010:

Retained earnings, November 1, 2009 $1,500,000
Net income 475,000
Cash dividends declared 50,000
Stock dividends declared 300,000

Prepare a retained earnings statement for the fiscal year ended October 31, 2010.

Reference no: EM131128261

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