Reconciling Retained Earnings Use the following data to reconcile the 2019 retained earnings for Springwerth...
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Finance
Reconciling Retained Earnings Use the following data to reconcile the 2019 retained earnings for Springwerth Company (that is, explain the change in retained earnings during the year).
Total retained earnings, December 31, 2018
$859,200
Stock dividends declared and distributed in 2019
73,600
Cash dividends declared and paid in 2019
88,000
Net income for 2019
324,800
Note: Use a negative sign with your answer(s) to show a reduction. Note: If an account label is not needed, enter a zero or leave the answer blank.
Springwerth Company
Statement of Retained Earnings
For Year Ended December 31, 2019
Retained earnings, December 31, 2018
Answer
Net income
Answer
Stock dividends
Answer
Cash dividends
Answer
Retained earnings, December 31, 2019
Answer
Answer & Explanation
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