Essay
On January 1, 2018, Catlin Corporation had Retained Earnings of $448,000. During the year, Catlin had the following selected transactions:
1. Declared stock dividends of $50,000.
2. Declared cash dividends of $80,000.
3. A 2 for 1 stock split involving the issuance of 200,000 shares of $5 par value common stock for 100,000 shares of $10 par value common stock.
4. Suffered a net loss of $60,000.
Instructions
Prepare a retained earnings statement for the year.
Correct Answer:
Verified
Correct Answer:
Verified
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