On January 1, 2014, Mather Corporation Had Retained Earnings of $625,000

Essay

On January 1, 2014, Mather Corporation had Retained Earnings of $625,000. During the year, Mather had the following selected transactions:
1. Declared stock dividends of $40,000
2. Declared cash dividends of $50,000
3. A 2 for 1 stock split involving the issue 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 $80,000
Instructions
Prepare a Retained Earnings Statement for the year.