On January 1, 2012, Mather Corporation had Retained Earnings of $525,000. During the year, Latter had the following selected transactions:
1.Declared stock dividends of $40,000
2.Declared cash dividends of $50,000
3.A 2 for 1 stock split involving the issue of 200,000 shares of $5 par value common stock for 100,000 shares of $10 par value common stock
4.Suffered a net loss of $60,000
Prepare a Retained Earnings Statement for the year.
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