Question

Retained Earnings Statement Willow Wanderer Cameras Inc. reported the following results for the year ending October 31, 2019: Retained earnings, November 1, 2048 $947,500 Net income 265,300 Cash dividends declared 80,000 Stock dividends declared 206,000 Prepare a retained earnings statement for the fiscal year ended October 31, 2019. Willow Wanderer Cameras Inc. Retained Earnings Statement For the Year Ended October 31, 2019 Retained Earnings, November 1, 2048 V Net Income Dividends Declared V Decrease in Retained Earnings Retained Earnings, October 31, 20Y9V Feedback

Answer 1

Willow Wandered Cameras Inc
Retained earnings statement
For the year ended October 31, 20Y9
Particulars	Amount ($)	Amount ($)
Retained earnings, November 1, 20Y8		9,47,500
Add: Net Income	2,65,300
Less: Dividend declared [$80,000 + $206,000]	2,86,000
Decrease in retained earnings		-20,700
Retained earnings, October 31, 20Y8		9,26,800