On January 1, 2011, the Retained Earnings Account of Crystal

Essay

On January 1, 2011, the retained earnings account of Crystal Pool Service Company had a balance of $252,000. During the year, the company issued an additional $20,000 of capital stock and paid $52,400 in dividends. For the year ended December 31, 2011, Crystal Pool Service Company reported a net income of $72,300. Prepare a retained earnings statement for the year ended December 31, 2011.