Relationships Among the Financial Statements The following information for Kellman Inc. is available at the end...

 

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Relationships Among the Financial Statements The following information for Kellman Inc. is available at the end of the year. Total assets on Jan. 1 $72,500 Common stock on Jan. 1 $50,000 Total assets on Dec. 31 78,900 Common stock on Dec. 31 50,000 Total liabilities on Jan. 1 12,100 Net income for the year 14,400 Total liabilities on Dec. 31 9,800 Required: Calculate the amount of dividends declared reported on the retained earnings statement. Relationships Among the Financial Statements The following information for Kellman Inc. is available at the end of the year. Total assets on Jan. 1 $72,500 Common stock on Jan. 1 $50,000 Total assets on Dec. 31 78,900 Common stock on Dec. 31 50,000 Total liabilities on Jan. 1 12,100 Net income for the year 14,400 Total liabilities on Dec. 31 9,800 Required: Calculate the amount of dividends declared reported on the retained earnings statement.