The following information is available for Grey Goose Inc.:
- Beginning retained earnings $600,000
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- Cash dividends declared 60,000
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- Net income for 2014 120,000
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- Stock dividend declared 15,000
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- Understatement of last year's depreciation expense 30,000
Instructions
- Based on the preceding information, prepare a retained earnings statement for 2014 in the box below.
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- GREY GOOSE INC.
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- Retained Earnings Statement
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- For the Year Ended December 31, 2014.