Prepare a Statement of Retained Earnings: On October 31, 2013, Lariat Inc. reported retained earnings of $250,000. For the year ended October 31, 2014, Lariat had a net income of $80,000 and paid dividends of $50,000.

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The Answer of Prepare a Statement of Retained Earnings: On October 31, 2013, Lariat Inc. reported retained earnings of $250,000. For the year ended October 31, 2014, Lariat had a net income of $80,000 and paid dividends of $50,000.

Prepare a Statement of Retained Earnings: on October 31, 2013