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Question 15 (of 15) 15 value...

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Accounting

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Question 15 (of 15) 15 value 2.50 points The following account balances were selected from the records of beverage maker Blake Corporation at December 31 after all adjusting entries were completed Common stock (par $15; authorized 100,000 shares, issued 28,000 shares of which 1,200 shares are held as treasury stock) Additional paid-in capital-common stock Dividends Retained earnings, beginning of year Treasury stock at cost (1.200 shares) $420,000 173,000 21,000 69,000 24,000 Net income for the year was $37,500. Required: 1 a. Prepare the statement of retained eamings for the year ended December 31 BLAKE CORPORATION Statement of Retained Earnings For the Year Ended December 31 Retained Earnings, January 1 Retained Earnings, December 31 1-b. Prepare the stockholders equity section of the balance sheet at December 31. (Amounts to be deducted should be indicated by a minus sign.) ac

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