Preparation of a Statement of Retained Earnings business on March 2, 2013 with an investment...
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Preparation of a Statement of Retained Earnings business on March 2, 2013 with an investment of $125,000 by each of its two shareholders. Net income for 2013 was $34,500. Net income increased to $56,400 in 2014 and to $94,250 in 2015. The company did not pay any dividends in 2013. However, Trail Mix distributed $5,000 dividends to each of the shareholders for both 2014 and 2015, E1-3 Trail Mix, Inc. was organized to do Trail Mix, Inc. Required Prepare a statement of retained earnings for the year ended December 31, 2015
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