Tentco Reported the Following Amounts in Various Statements Included in Its

question 186

Essay

Tentco reported the following amounts in various statements included in its 2017 annual report.(All amounts are stated in millions of dollars. )

$\begin{array}{lr}\text { Net income for } 2017 & \$ 142 \\\text { Cash dividends declared in } 2017 & 15 \\\text { Retained earnings, December } 31,2016 & 95\end{array}$ REQUIRED:
(1)Prepare a statement of retained earnings for the year ended December 31,2017.
(2)Assume that Tentco presents a statement of stockholders' equity rather than a statement of retained earnings in its annual report.Explain how the information differs between the two statements.

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Definitions:

Organizational Foundation

The underlying principles, ethics, and culture upon which an organization is built and operates.

Philosophical Reason

Pertains to the underlying principles or beliefs that drive decisions or actions, often reflecting broader ethical, moral, or existential considerations.

Organizational Strategy

A plan for how an organization will conduct operations and meet its objectives through the efficient use of resources.

Future Events

Upcoming occurrences or activities that will take place at a later time.