Presented below is information related to Waterway Ltd. for the year 2022 (amounts in thousands). Net...

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Presented below is information related to Waterway Ltd. for the year 2022 (amounts in thousands). Net sales HK$1,392,000 Write-off of inventory due to obsolescence HK$100,000 Cost of goods sold 912,000 Depreciation expense omitted by accident in 2021 50,000 Selling expenses 70,000 Interest expense 58,000 Administrative expenses 56,400 Cash dividends declared 54,000 Dividend revenue 34,000 Retained earnings at December 31, 2021 1.144,000 Interest revenue 9,200 Effective tax rate of 34% on all items Prepare a retained earnings statement for 2022. (List items that increase adjusted retained earnings first. WATERWAY LTD. Retained Earnings Statement For the Year Ended December 31, 2022 Retained Earnings, December 31 HK$ Expenses Retained Earnings Jarsry 1 as adjusted Add V: Net Income/(Loss) Less V: Dividends Dedared HKS Reained Eanings, December 31 > > Presented below is information related to Waterway Ltd. for the year 2022 (amounts in thousands). Net sales HK$1,392,000 Write-off of inventory due to obsolescence HK$100,000 Cost of goods sold 912,000 Depreciation expense omitted by accident in 2021 50,000 Selling expenses 70,000 Interest expense 58,000 Administrative expenses 56,400 Cash dividends declared 54,000 Dividend revenue 34,000 Retained earnings at December 31, 2021 1.144,000 Interest revenue 9,200 Effective tax rate of 34% on all items Prepare a retained earnings statement for 2022. (List items that increase adjusted retained earnings first. WATERWAY LTD. Retained Earnings Statement For the Year Ended December 31, 2022 Retained Earnings, December 31 HK$ Expenses Retained Earnings Jarsry 1 as adjusted Add V: Net Income/(Loss) Less V: Dividends Dedared HKS Reained Eanings, December 31 > >

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Items to be deducted is shown as minus sign Please take the signage as per format WATERWAY LTD Re... View the full answer