Stone Culture Corporation was organized on January 1, 2013. For its first two years of operations, it

Question:

Stone Culture was organized on January 1, 2013. For its first two years of operations, it reported the following:

Dividends for 2014 Total assets at the end of 2013 Total assets at the end of 2014 Net Income for 2013 Net Income for 20

On the basis of the data given, prepare a statement of retained earnings for 2013 (its first year of operations) and 2014.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...