Following is selected financial information for Boardwalk for the year ended December 31, 2011.
| Retained earnings, Dec. 31, 2011 | $ | 18,750 | Cash dividends | $ | 2,000 | |
| Net income | 11,750 | Retained earnings, Dec. 31, 2010 | 9,000 | |||
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| Required: |
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Prepare the 2011 statement of Retained earnings for Boardwalk. (Amounts to be deducted should be indicated with a minus sign. Omit the "$" sign in your response.)
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Boardwalk
Statement of Owner’s Equity For Year Ended December 31, 2011 | |
Retained earnings, Dec. 31, 2010  | $ 9,000 |
| Add: Net income | 11,750 |
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| 20,750 | |
| Less: Cash dividends | -2,000 |
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| Retained earnings, Dec. 31, 2011 | $ 18,750 |
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