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Landon Corporation was organized on January 2, 2015, with the investment of $120,000 by each...

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Accounting

Landon Corporation was organized on January 2, 2015, with the investment of $120,000 by each of its two stockholders. Net income for its first year of business was $79,340. Net income increased during 2016 to $114,250 and to $133,670 during 2017. Landon paid $19,000 in dividends to each of the two stockholders in each of the three years.

Required:

Prepare a statement of retained earnings for the year ended December 31, 2017.

Landon Corporation
Statement of Retained Earnings
For the Year Ended December 31, 2017
Retained earnings, January 1, 2017 $fill in the blank 2
Net income for 2017 fill in the blank 4
Dividends declared and paid fill in the blank 6
Retained earnings, December 31, 2017 $fill in the blank 8

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