Financial information related to Madras Company for the month ended April 30, 2006, is as follows: Net

Question:

Financial information related to Madras Company for the month ended April 30, 2006, is as follows:
Net income for April .............. $ 73,000
Dividends during April .............. 12,000
Retained earnings, April 1, 2006 ........ 297,200
Prepare a retained earnings statement for the month ended April 30, 2006.