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Prepare retained earnings statement for the fiscal year

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Reference no: EM131941850

Question - Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following re- sults for the year ended January 31, 2016:

Retained earnings, February 1, 2015 - $59,650,000

Net income - 8,160,000

Cash dividends declared - 1,000,000

Stock dividends declared - 2,600,000

Prepare retained earnings statement for the fiscal year ended January 31, 2016.

Reference no: EM131941850

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