E11-16 Preparing a Statement of Retained Earnings and Partial Balance Sheet and Evaluating Dividend Policy [LO 11-3, LO 11-5]
The following account balances were selected from the records of beverage maker Blake Corporation at December 31 after all adjusting entries were completed:
common stock (par $15; authorized 100,ooo shares, issued 29,ooo shares, $435, ooo of which 1,100 shares are held as treasury stock Additional paid-in capital common stock 174,000 Dividends 22,000 Retained earnings, beginning of year 70,000 Treasury stock at cost (1100 shares) 22,000 Net income for the year was $39000 Required 1-a. Prepare the statement of retained earnings for the year ended December 31 BLAKE CORPORATION Statement of Retained Earnings For the Year Ended December 31 Retained Earnings, January 1 ________
Retained Earnings, December 31 ______