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Prepare a retained earnings statement for the fiscal year

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Reference no: EM132692856

Problem - Rockwell Inc. reported the following results for the year ended June 30, 20Y5:

Retained earnings, July 1, 20Y4 $3,900,000

Net income 714,000

Cash dividends declared 100,000

Stock dividends declared 50,000

Required - Prepare a retained earnings statement for the fiscal year ended June 30, 20Y5.

Reference no: EM132692856

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