You are the accountant for BBB Corporation. One of your jobs is to prepared the Statement of Retained Earnings for the end of the year. Using the following ledger balances and information, create the Statement of Retained Earnings for the fiscal year ending November 30, 2020. Cash $25,000
Common Stock, $5 Par Value $50,000 Cash dividends declared for the year
$12,000 Unearned Revenue $14,000 Additional Paid In Capital $19,000 Retained Earnings, beginning of the year $30,000 Net Income for the Year $46,000 Prior period adjustment net of income tax $1,000