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47 You sent NEWLAND COMPANY Retained Earnings Statement For the Year Ended...

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Accounting

47

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NEWLAND COMPANY Retained Earnings Statement For the Year Ended December 31, 2014

Balance, January 1, as reported... $310,000 Correction for understatement of 201 net Income . 20000 Balance, January 1, as adjusted 330.000 Add: Net income ...... 285,000 615,000 Less: Cash dividends $100,0001 Stock dividend 150,0002 250,000 Balance, December 31

1(200,000 X $.50Ish) 2(200,000 X .05 X 15/sh)

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