Auckland Cruises Inc. reported the following results for the year ending April 30, 2012: Retained earnings, May
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Retained earnings, May 1, 2011 .......$3,180,000
Net income .................515,000
Cash dividends declared ...........100,000
Stock dividends declared ..........125,000
Prepare a retained earnings statement for the fiscal year ended April 30, 2012.
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