Pressure Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended January $31,20$Y$2$:

Retained earnings, February $1,20$Y$1$ $$63,573,000$

Net income $8,133,000$

Cash dividends declared $1,050,000$

Stock dividends declared $2,453,000$

Required:

Prepare a retained earnings statement for the fiscal year ended January $31,20$Y$2.$ Be sure to complete the statement heading. Refer to the lists of Accounts, Labels, and Amount Descriptions provided for the exact wording of the answer choices for text entries. A decrease to retained earnings should be entered as a negative amount.

Answer rating: 100% (QA)

Retained Earnings Statement For the Fiscal Year Ended Janu... View the full answer