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Prepare a retained earnings statement for the fiscal year

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Reference no: EM13510368

Maxima Retractors Inc. reported the following results for the year ending October 31, 2008:
Retained earnings, November 1, 2007 ....................$2,906,000
Net income .................................................... 553,000
Cash dividends declared .................................... 100,000
Stock dividends declared .................................... 200,000

Prepare a retained earnings statement for the fiscal year ended October 31, 2008.

Reference no: EM13510368

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