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Prepare a retained earnings statement for the month

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Reference no: EM132679306

Problem - Retained Earnings statements

Financial information related to Lost Trail Company, a corporation, for the month ended June 30, 2012, is as follows:

Net income for June $125,000

Dividends 18,000

Retained earnings, June 1, 2012 375,000

Required -

a. Prepare a retained earnings statement for the month ended June 30, 2012.

b. Why is the retained earnings statement prepared before the June 30, 2012, balance sheet?

Reference no: EM132679306

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