Prepare a Statement of Retained Earnings for the Year Ended

question 23

Essay

Prepare a Statement of Retained Earnings for the year ended June 30,2017.
Chedacorn was incorporated on July 1,2015 by 10 shareholders who each invested $100,000 in cash in exchange for common shares.Chedacorn's year end is June 30th.In its first year of business Chedacorn had a net income of $243,750.For its years ended June 30,2016 and 2017,its second and third years of operation,Chedacorn reported net income of $472,500 and $560,000 respectively.In its first year Chedacorn did not pay any dividends,but in fiscal 2016 it paid $62,500 in dividends and in 2017 it paid $100,000 in dividends.

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Definitions:

Game Stage

A stage in child development where they begin to understand and participate in social roles beyond their immediate family, according to Mead's theory of social self.

Structured Activities

Organized and planned events or tasks designed to achieve specific goals.

Interpersonal Interactions

The exchange or communication between two or more people through verbal or non-verbal means.

Household Expenses

Financial outlays related to the running and maintenance of a home, including bills, groceries, and rent or mortgage payments.