Question: Current Attempt in Progress For the year ended December 31, 2021, Penny Worth Farms Limited, a private company, reported net income of $348,840. The company

Current Attempt in Progress For the year ended December 31, 2021, Penny Worth Farms Limited, a private company, reported net income of $348,840. The company declared dividends of $124,200 and paid $43,200 of these dividends during the year. PENNYWORTH FARMS LIMITED Statement of Retained Earnings V $ V V v v $G Google * $ Homepage - SAIT WP Ch11 Graded Online Assignment X NWP Assessment Player UI Appli X *Homework Help - Q&A from Onl x + X - > C education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=451f7cfb-df4a-4329-aa04-95abe8f2cf1a#/question/7 Ch11 Graded Online Assignment Question 8 of 9 - 12 5 Prepare a statement of retained earnings for the year, assuming the balance in Retained Earnings on January 1, 2021, was $550,800. (List items that increase retained earnings first.) PENNYWORTH FARMS LIMITED Statement of Retained Earnings to Less Add $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (b) Type here to search B. X C 10 C ~ D () ENG 2:26 PM 2021-11-29G Google * $ Homepage - SAIT WP Ch11 Graded Online Assignment X NWP Assessment Player UI Appli X *Homework Help - Q&A from Onl x + X - > C education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=451f7cfb-df4a-4329-aa04-95abe8f2cf1a#/question/7 Ch11 Graded Online Assignment Question 8 of 9 - 12 5 Prepare a statement of retained earnings for the year, assuming the balance in Retained Earnings on January 1, 2021, was $550,800. (List items that increase retained earnings first.) PENNYWORTH FARMS LIMITED Statement of Retained Earnings to Cash dividends Common shares Expenses Loss Net Income Retained earnings, January 1 Retained earnings, December 31 Revenues Stock dividend Total expenses $ Total revenues e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (b) Type here to search B. X C 10 C ~ D () ENG 2:26 PM 2021-11-29G Google * $ Homepage - SAIT WP Ch11 Graded Online Assignment X NWP Assessment Player UI Appli X *Homework Help - Q&A from Onl x + X - > C education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=451f7cfb-df4a-4329-aa04-95abe8f2cf1a#/question/7 Ch11 Graded Online Assignment Question 8 of 9 - 12 5 Prepare a statement of retained earnings for the year, assuming the balance in Retained Earnings on January 1, 2021, was $550,800. (List items that increase retained earnings first.) PENNYWORTH FARMS LIMITED Statement of Retained Earnings to Dividends declared Common shares Expenses Loss Net Income Retained earnings, January 1 Retained earnings, December 31 $ Revenues Stock dividend Total expenses Total revenues eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (b) Type here to search B. X C 10 C ~ D () ENG 2:26 PM 2021-11-29

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