Danner Company reported the following amounts in its 2012 annual report. $\begin{array}{llcc}
\text { Net income for 2012} & \$8,450 \
\text { Dividends declared and paid in 2012 } &\underline{\quad?\quad}\
\text { Retained earnings, December 31, 2011 } &82,000\
\text { Retained earnings, December 31, 2012 } &90,000\
\end{array}$

Required:
Solve for dividends declared and paid in 2010 and prepare a statement of retained earnings for Danner Company for the year ended December 31,2010.(Include the proper heading. )

Question

Danner Company reported the following amounts in its 2012 annual report. $\begin{array}{llcc}
  \text {  Net income for 2012} & \$8,450 \
 \text { Dividends declared and paid in 2012 } &\underline{\quad?\quad}\
 \text { Retained earnings, December 31, 2011 } &82,000\
 \text { Retained earnings, December 31, 2012 } &90,000\
\end{array}$
 
Required:
Solve for dividends declared and paid in 2010 and prepare a statement of retained earnings for Danner Company for the year ended December 31,2010.(Include the proper heading. )

Quizplus · Accepted Answer

The Answer of Danner Company reported the following amounts in its 2012 annual report. $\begin{array}{llcc}
  \text {  Net income for 2012} & \$8,450 \
 \text { Dividends declared and paid in 2012 } &\underline{\quad?\quad}\
 \text { Retained earnings, December 31, 2011 } &82,000\
 \text { Retained earnings, December 31, 2012 } &90,000\
\end{array}$
 
Required:
Solve for dividends declared and paid in 2010 and prepare a statement of retained earnings for Danner Company for the year ended December 31,2010.(Include the proper heading. )

Danner Company Reported the Following Amounts in Its 2012 Annual