Flowers, Inc had beginning retained earnings of $125,000 on January 1, 2017
During the year, Flowers declared and paid $40,000 of cash dividends and earned $55,000 of net income. Prepare a statement of retained earnings for Flowers, Inc for the year ending December 31, 2017.
What will be an ideal response
Flowers, Inc.
Statement of Retained Earnings
Year Ended December 31, 2017
Retained Earnings, January 1,2017 $ 125,000
Net income for the year 55,000
180,000
Dividends Declared (40,000 )
Retained Earnings, December 31, 2017 $ 140,000
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