Firefly, Inc. reported the following results for the year en…
Firefly, Inc. reported the following results for the year ended July 31, 20Y2: Retained earnings, August 1, 20Y2 $875,000 Net income 450,000 Cash dividends declared 140,000 Stock dividends declared 60,000 Required: Prepare a retained earnings statement for the fiscal year ended July 31, 20Y2. NOTE: When preparing the retained earnings statement, do not abbreviate. Write out the full term as shown in the reading and homework to earn full credit. Express numbers using commas only. Do not use a dollar sign. If a negative amount is required, use either a minus sign or parentheses. Examples include 55,000 or 55000, and -55,000 or (55,000). Each box requires only one term or a word or the full date. The date format should include the month, day, and year. For example, if a line should read “Net income”, you will see two fillable boxes. One for each word. If a box requires a date such as December 31, 20Y4 you will enter the fully date; “December 31, 20Y4” into the one fillable box. Firefly, Inc. [heading1] [heading2] [heading3] For the Year Ended [july31Y2] [begRE1] [begRE2], [august1] [REbalance] [netincome1] [netincome2] [netincomeamt] [dividends] [dividendsamt] [changeRE1] in [changeRE3] [changeRE4] [changeREamt] [endingRE1] [endingRE2], [july31] [endREamt]
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