Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended December 31, 20Y3:

Line Item Description Amount
Retained earnings, January 1, 20Y3 $505,900
Net income 75,900
Cash dividends declared 13,700
Stock dividends declared 25,800

Prepare a retained earnings statement for the year ended December 31, 20Y3.

Sumter Pumps Corporation
Retained Earnings Statement
For the Year Ended December 31, 20Y3