Danner Company Reported the Following Amounts in Its 2012 Annual

Essay

Danner Company reported the following amounts in its 2012 annual report. $\begin{array}{llcc} \text { Net income for 2012} & \$8,450 \\ \text { Dividends declared and paid in 2012 } &\underline{\quad?\quad}\\ \text { Retained earnings, December 31, 2011 } &82,000\\ \text { Retained earnings, December 31, 2012 } &90,000\\\end{array}$

Required:
Solve for dividends declared and paid in 2010 and prepare a statement of retained earnings for Danner Company for the year ended December 31,2010.(Include the proper heading. )