3rd Ch 12 Exercises Retained earnings statement Instructions Labels and Amount Descriptions Retained Earnings Statement Instructions X Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended December 31, 20Y3: Retained earnings, January 1, 20Y3 $61,182,000 Net income 8,072,000 Cash dividends declared 901,000 Stock dividends declared 2,560,000 Prepare a retained earnings statement for the year ended December 31, 20Y3. Be sure to complete the statement heading. Refer to the lists of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted negative numbers use a minus sign. Labels and Amount Descriptions X Labels For the Year Ended December 31, 20 13 December 31, 20Y3 Amount Descriptions Change in retained earnings Dividends Excess of issue price over par Issuance of additional common stock Issuance of additional preferred stock Net income Net loss Retained earnings, December 31, 20Y3 Retained earnings, January 1, 20Y3 Retained Earnings Statement X Prepare a retained earnings statement for the year ended December 31, 20Y3. Be sure to complete the statement heading. Refer to the lists of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted negative numbers use a minus sign. Sumter Pumps Corporation Retained Earnings Statement (Label) UI A W N Check My Work 1 more Check My Work uses remaining.