Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended December
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Question:
Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended December 31, 20Y3:
Retained earnings, January 1, 20Y3 | $60,583,000 |
Net income | 7,466,000 |
Cash dividends declared | 1,001,000 |
Stock dividends declared | 2,607,000 |
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.
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For the Year Ended December 31, 20Y3 | |
December 31, 20Y3 | |
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Dividends | |
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Issuance of additional preferred stock | |
Net income | |
Net loss | |
Retained earnings, December 31, 20Y3 | |
Retained earnings, January 1, 20Y3 |
Sumter Pumps Corporation |
Retained Earnings Statement |
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Related Book For
Financial Accounting
ISBN: 978-1305088436
14th edition
Authors: Carl S. Warren, Jim Reeve, Jonathan Duchac
Posted Date: