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Brief Exercise 4-10 Larkspur Corporation has retained earnings of $721,100 at January 1,...

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Accounting

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Brief Exercise 4-10 Larkspur Corporation has retained earnings of $721,100 at January 1, 2017. Net income during 2017 was $1,562,700, and cash dividends declared and paid during 2017 totaled $79,000. Prepare a retained earnings statement for the year ended December 31, 2017. Assume an error was discovered: land costing $86,370 (net of tax) was charged to maintenance and repairs expense in 2014. (List items that increase retained earnings first.) LARKSPUR CORPORATION Retained Earnings Statement

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