Retained Earnings Statement Zoe Backus owns and operates Backus Advertising Services. On January 1, 2018,...
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Retained Earnings Statement Zoe Backus owns and operates Backus Advertising Services. On January 1, 2018, Retained Earnings had a balance of $266,300. During the year, Zoe invested an additional $58,600 in exchange for common stock and $34,600 in dividends were paid. For the year ended December 31, 2018, Backus Advertising Services reported a net income of $29,100. Prepare a retained earnings statement for the year ended December 31, 2018. Backus Advertising Services Retained Earnings Statement For the Year Ended December 31, 2018 Retained earnings, January 1, 2018 $ 266,300 Net income $58,600 x 34,600 Dividends Change in retained earnings 34,600 X Retained earnings, December 31, 2018
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