Question: LO8 E10.7 Determine changes in retained earnings. Speedy Deliveries Ltd had the following equity accounts at 1 January 2018: $150000 10000 Share capital (30 000

LO8 E10.7 Determine changes in retained earnings. Speedy Deliveries Ltd had

LO8 E10.7 Determine changes in retained earnings. Speedy Deliveries Ltd had the following equity accounts at 1 January 2018: $150000 10000 Share capital (30 000 shares) Dividend equalisation reserve Retained earnings 34 000 During the year ended 31 December 2018, the following occurred: 1. A profit of $20 000 was generated. 2. $5000 was transferred to the dividend equalisation reserve. 3. An interim dividend of 15c per share was declared and paid. 4. A final dividend of 10c per share was declared. Required Prepare a statement of the changes in retained earnings

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