Business, 24.01.2020 20:31 rachel2735

Retained earnings statement

the revenues and expenses of paradise travel service for the year ended may 31, 2018, follow:

fees earned $900,000

office expense 300,000

miscellaneous expense 15,000

wages expense 450,000

prepare a retained earnings statement for the year ended may 31, 2018.

everett mccauley invested an additional $40,000 in the business in exchange for common stock, and $10,000 of dividends were paid during the year. retained earnings as of june 1, 2017, were $300,000.

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Retained earnings statement

the revenues and expenses of paradise travel service for th...