Homework Answers
Solution:
| Restoration Arts | ||
| Retained Earnings Statement | ||
| For the Year Ended April 30, 2018 | ||
| Retained Earnings, May 1, 2017 | $ 467,500 | |
| Net Income | $ (31,400) | |
| Dividends | $ (7,800) | |
| Change in retained earnings | $ (39,200) | |
| Retained Earnings,April 30, 2018 | $ 428,300 | |
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