Question: Retained earnings statement Instructions Instructions Labels and Amount Descriptions Retained Earnings Statement Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following results

Retained earnings statement Instructions Instructions Labels and Amount Descriptions Retained Earnings Statement Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended December 31, 20Y3: Retained earnings, January 1, 2013 Net income Cash dividends declared Stock dividends declared $61,182,000 8,072,000 901,000 2,560,000 Prepare a retained earnings statement for the year ended December 31, 20Y3. Be sure to complete the statement heading. Refer to the lists of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted negative numbers use a minus sign. X

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