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Prepare a retained earnings statement for the fiscal year

Dynamic Leaders Inc. reported the following results for the year ending July 31, 2008:

Retained earnings, August 1, 2007 ....................$988,500
Net income ................................................ 325,000
Cash dividends declared ................................. 35,000
Stock dividends declared ................................ 90,000

Prepare a retained earnings statement for the fiscal year ended July 31, 2008.

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Financial Accounting: Prepare a retained earnings statement for the fiscal year

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