Question: I need help figuring out the Balance December 31, 2018 -> Retained Earnings Thank you Plummer Stonework Corporation was organized on January 1, 2017. For

I need help figuring out the Balance December 31, 2018 -> RetainedI need help figuring out the Balance December 31, 2018 -> Retained Earnings

Thank you

Plummer Stonework Corporation was organized on January 1, 2017. For its first two years of operations, it reported the following: Net income for 2017 Net income for 2018 Dividends for 2017 Dividends for 2018 Total assets at the end of 2017 Total assets at the end of 2018 Common stock at the end of 2017 Common stock at the end of 2018 $ 30,200 43,500 14,000 17,000 132,000 255,000 90,000 90,000 Required: On the basis of the data given, prepare a statement of stockholders' equity for 2018. PLUMMER STONEWORK CORPORATION Statement of Stockholders' Equity For the Year Ended December 31, 2018 Common Stock Retained Earnings Balance December 31, 2017 $ 90,000 $ 16,200 Add: Net income 43,500 Less: Dividends 17,000 Balance December 31, 2018 90,000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!