prepare the statement of retained earnings for the year ended december 31,2017 Problem 6-7 The retai

 
   

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prepare the statement of retained earnings for the year ended december 31,2017 Problem 6-7 The retained earnings account for Golden Company shows the following charges and credits for the year 2017: $ Balance-January 1 Loss from fire Goodwill impairment Stock dividend Loss on sale of equipment Compensation of prior period not accrued Loss on retirement of preference share at more than issue price 2,600,000 50,000 250,000 700,000 200,000 500,000 350.000 Share premium Gain on early retirement of bonds payable Gain on life insurance settlement Correction of prior period error-credit Net income for the year Appropriated for treasury share during the year 600,000 100,000 450,000 400,000 3,000,000 1,000,000 Required: Prepare the statement of retained earnings for the year ended December 31, 2017