Retained Earnings Statement Climate Control Systems Co. offers its services to r

Question

Retained Earnings Statement Climate Control Systems Co. offers its services to residents in the Spokane area. Selected accounts from the ledger of Climate Control Systems for the fiscal year ended December 31, 2018, are as follows:

Retained Earnings Statement Climate Control Systems Co. offers its services to residents in the Spokane area. Selected accounts from the ledger of Climate Control Systems for the fiscal year ended December 31, 2018, are as follows: Retained Earnings Dividends 7,300Dec. 31 7,300 7,300 7,300 29,200Jan. 1 (2018) Dec. 31 Dec. 31 557,700 292,000 Mar. 31 June 30 Sept. 30 Dec. 31 29,200 Income Summary Dec. 31 Dec. 31 546,000Dec. 31 292,000 838,000 Prepare a retained earnings statement for the year Qimate Control Systems Co. Retained Earnings Statement For the Year Ended December 31, 2018 Retained earnings, January 1, 2018 Net income Dividends Change in retained earnings Retained earnings, December 31, 2018

Explanation / Answer

Retained earnings Statement Retained earnings, January 1, 2018 557700 Net income 292000 Dividends -29200 Change in retained earnings 262800 Retained earnings, December 31, 2018 820500

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