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9 October, 01:14

Spahr , Inc. had beginning retained earnings of $ 125 comma 000 on January 1, 2018. During the year, Spahr declared and paid $ 65 comma 000 of cash dividends and earned $ 90 comma 000 of net income. Prepare a statement of retained earnings for Spahr , Inc. for the year ending December 31, 2018.

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  1. 9 October, 01:41
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    Preparation of the retained statement of earnings for the year ended 31 December 2018 is discussed below:

    Spahr , Inc.

    Retained Earning statement

    For the year ended December 31, 2018

    Beginning retained earning balance $125,000

    Add: Net income earned $90,000

    Less: Cash Dividend paid - $65,000

    Ending retained earning balance $150,000
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