Question: Please do it As soon as possible in hour Alpha Echo Tango (AET) Ltd had the following equity accounts as at 1/7/2020. Share Capital (50,000

Please do it As soon as possible in hour

Alpha Echo Tango (AET) Ltd had the following equity accounts as at 1/7/2020.

Share Capital (50,000 shares)

200,000

General reserve

20,000

Retained Earnings

52,000

During the year ended 30/6/2021, the following occurred:

1. A profit of $25,000 was generated

2. $10,000 was transferred to the General reserve.

3. A final dividend of 18c per share was declared and paid.

Required:

A statement of the changes in retained earnings.

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