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Retained Earnings Statement

Dittman Expositions has the following data available:

Dividends, declared, Year $1$ $$9,250$ Retained earnings, Jan. $1,$ Year $116,700$

Dividends, declared, Year $29,910$ Revenues, Year $1419,400$

Expenses, Year $1402,500$ Revenues, Year $2442,400$

Expenses, Year $2412,600$

Required:

Prepare retained earnings statements for Year $1$ and Year $2.$

Dittman Expositions

Retained Earnings Statement

For the years ending December $31,$ Year $1,$ and December $31,$ Year $2$

Year $1$ Year $2$

Retained earnings, beginning of year

$Retained earnings, beginning of year

$Retained earnings, beginning of year

Add: Net income

Add: Net income

$16,900$

Add: Net income

$29,800$

Less: Dividends declared

Less: Dividends declared

$9,250$

Less: Dividends declared

$9,910$

Retained earnings, end of year

$Retained earnings, end of year

$Retained earnings, end of year