Retained Earnings Statement Using the income statement for Ousel Travel Service shown in Practice Exercise 1-4A, prepare a retained earnings statement for the year ended November 30, 2016. Shane Ousel...

Retained Earnings Statement

Using the income statement for Ousel Travel Service shown in Practice Exercise 1-4A, prepare a retained earnings statement for the year ended November 30, 2016. Shane Ousel invested an additional $50,000 in the business in exchange for common stock during the year and cash dividends of $30,000 were paid. Retained earnings as of December 1, 2015, was $566,000