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Question
On January 1, 2012, Mather Corporation had Retained Earnings of $525,000. During the year, Latter had the following selected transactions:
1. Declared stock dividends of $40,000
2. Declared cash dividends of $50,000
3. A 2 for 1 stock split involving the issue of 200,000 shares of $5 par value common stock for 100,000 shares of $10 par value common stock
4. Suffered a net loss of $60,000
Instructions
Prepare a Retained Earnings Statement for the year.
Answer
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