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Business, 06.10.2019 07:01 EssiePooh7649

The following information is related to novak company for 2020. retained earnings balance, january 1, 2020 sales revenue cost of goods sold interest revenue selling and administrative expenses write-off of goodwill income taxes for 2020 gain on the sale of investments loss due to flood damage loss on the disposition of the wholesale division (net of tax) loss on operations of the wholesale division (net of tax) dividends declared on common stock dividends declared on preferred stock $1,352,400 34,500,000 22,080,000 96,600 6,486,000 1,131,600 1,716,720 151,800 538,200 607,200 124,200 345,000 110,400 novak company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. on september 15, novak sold the wholesale operations to rogers company. during 2020, there were 500,000 shares of common stock outstanding all year. a prepare a retained earnings statement. (list items that increase retained earnings first.) novak company retained earnings statement

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