On January 1, 2014, 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, 2014, Crystal Pool Service Company reported a net income of $73,200. Prepare a retained earnings statement for the year ended December 31, 2014.

Question

Quizplus · Accepted Answer

The Answer of On January 1, 2014, 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, 2014, Crystal Pool Service Company reported a net income of $73,200. Prepare a retained earnings statement for the year ended December 31, 2014.

On January 1, 2014, the Retained Earnings Account of Crystal