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Question - The Singh park hotels activities impacting retained earnings and other equity accounts during the 20x2 were as follows:
-5000 shares of common stock with a per value of 5$ were sold for $15.00 per share
-dividends declared in 20xx1 of $80000 were paid in 20x2
-dividends declared in 20x2 and paid in 20x2 totaled in $190000
-dividends declared in 20x2 to be paid during 20x3 totaled $40000
-net earnings for 20x2 equaled 280000 the balance of the retained earnings account was $300000 at the beginning of 20x2
Required - Prepare the statement of retained earnings for 20x2 for the Singh park hotel. (assume the hotels fiscal year ends on December 31, 20x2).
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