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17 June, 02:42

Willow Wanderer Cameras Inc. reported the following results for the year ending October 31, 20Y9: Retained earnings, November 1, 20Y8 $2,269,000 Net income 680,700 Cash dividends declared 50,000 Stock dividends declared 127,000

Prepare a retained earnings statement for the fiscal year ended October 31, 20Y9.

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  1. 17 June, 04:23
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    The statement would be:

    Date: October 31, 2019

    Net Income $680,700

    Cash dividends $50,000

    Stock dividends $127,000

    Retained earnings $503,700

    The retained earnings are equal to the sum of declared dividends substracted from the net income.
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