Swiger Music Company had the following information related to its financial statements:
1) The company issued bonds in the amount of $50,000.
2) Earned net income of $78,900, declared a cash dividend of $0.25 per share, currently there are 50,000 shares issued.
3) Retained earnings at January 1, 2014 was $82,000.
Required:
Prepare the reconciliation of retained earnings for December 31, 2014.

Question

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The Answer of Swiger Music Company had the following information related to its financial statements:
1) The company issued bonds in the amount of $50,000.
2) Earned net income of $78,900, declared a cash dividend of $0.25 per share, currently there are 50,000 shares issued.
3) Retained earnings at January 1, 2014 was $82,000.
Required:
Prepare the reconciliation of retained earnings for December 31, 2014.

Swiger Music Company Had the Following Information Related to Its