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?: CengageNow2lOnlirx + 2 cengagenow.com/ilrm/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSessionLocator-assignment-take;&inprogress-false; Retained Earnings Statement Noric Cruises Inc. reported the following results for the year ended October 31, 20Y9: Retained earnings, November 1, 20Y8 Net income Cash dividends declared Stock dividends declared Prepare a retained earnings statement for the fiscal year ended October 31, 20Y9. $12,400,000 2,350,000 175,000 300,000 Noric Cruises Inc. Retained Earnings Statement For the Year Ended October 31, 20Y9 ? 19 AM 4/10/2018 search

Explanation / Answer

1 Retained earnings statement Beginning retained earnings 12400000 Net income 2350000 Dividend -475000 1875000 Ending retained earnings 14275000 2 Stockholders equity Paid in capital Common stock 48000000 Paid in capital in excess common stock 6400000 Total 54400000 Paid in capital treasury stock 4500000 Total paid in capital 58900000 Retained earnings 63680000 Sub total 122580000 Treasury stock -5200000 Total stockholders equity 117380000

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