Question Details

retained earnings statement for 2013



Rex Company reported retained earnings at December 31, 2012, of $410,000. Reese had 160,000 shares of common stock outstanding throughout 2013.
	The following transactions occurred during 2013.
1.	An error was discovered in 2011, depreciation expense was recorded at $60,000, but the correct amount was $50,000.
2.	A cash dividend of $0.50 per share was declared and paid.
3.	A 5% stock dividend was declared and distributed when the market price per share was $15 per share.
4.	Net income was $225,000.
Instructions
Prepare a retained earnings statement for 2013.




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