Comparative Retained Earnings Statement For the Years Ended

Comparative retained earnings statement for the years

This preview shows page 1 - 3 out of 3 pages.

Rainbow Paint Co. Comparative Retained Earnings Statement For the Years Ended December 31, 2013 and 2012 2013 2012 Retained earnings, January 1 $ 723,000 $ 581,800 Add net income for year 245,000 211,200 Total $ 968,000 $ 793,000 Deduct dividends: On preferred stock $ 40,000 $ 40,000 On common stock 45,000 30,000 Total $ 85,000 $ 70,000 Retained earnings, December 31 $ 883,000 ======== $ 723,000 ========
Image of page 1