Selected accounts from the ledger of Restoration Arts for the fiscal year ended April 30,...
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Accounting
Selected accounts from the ledger of Restoration Arts for the fiscal year ended April 30, 2016, are as follows:
Retained Earnings
Apr. 30
30,800
May 1 (2015)
462,000
Apr. 30
3,400
Dividends
Sept. 30
850
Apr. 30
3,400
Dec. 31
850
March 31
850
June 30
850
Income Summary
Apr. 30
195,200
Apr. 30
164,400
Apr. 30
30,800
Prepare a retained earnings statement for the year. If a net loss has been incurred or there has been a decrease in retained earnings, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries.
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