You are the accountant for Kamal Fabricating, Inc. and you oversee the preparation of financial statements for the year just ended 6/30/2020. You have the following information from the company’s general ledger and other financial reports (all balances are end-of-year except for those noted otherwise):
|Cash dividends declared for the year||2,000|
|Additional paid-in capital||6,000|
|Prior period adjustment, net of income taxes||(2,000)|
|Retained earnings, beginning of the year||6,000|
|Net income for the year||9,000|
Prepare the company’s Statement of Retained Earnings.
|Kamal Fabricating, Inc.|
|Statement of Retained Earnings|
|Year Ended June 30, 2020|
|$fill in the blank 2|
|fill in the blank 4|
|$fill in the blank 6|
|fill in the blank 8|
|$fill in the blank 9|
|fill in the blank 11|
|$fill in the blank 13|
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