Francis Matthews owns and operates Daffodil Advertising Services. On January 1, 2013, Retained Earnings had a balance
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Francis Matthews owns and operates Daffodil Advertising Services. On January 1, 2013, Retained Earnings had a balance of $475,000. During the year, Francis invested an additional $50,000 in exchange for capital stock and $30,000 in dividends were paid. For the year ended December 31, 2013, Daffodil Advertising Services reported a net income of $139,500. Prepare a retained earnings statement for the year ended December 31, 2013.
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Related Book For 
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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