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Unformatted text preview: Gain on sale of investments Loss on sale of investments INCOME TAX EXPENSE INCOME FROM DISCONTINUED OPERATIONS (NET OF TAX) 12 Statement of Retained Earnings: reports the way that net income and the distribution of dividends affected the retained earnings for the period. MAXIDRIVE CORP. Statement of Retained Earnings For the Year Ended December 31, 20A (in thousands of dollars) Retained earnings, January 1, 20A $6,805 Net income for 20A 3,300 Dividends for 20A (1,000)...
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