91Ó°ÊÓ

The dates of importance in connection with a cash dividend of \(\$ 275,000\) on a corporation's common stock are July 2, August 1, and September 1. Journalize the entries required on each date.

Stillwater Corporation, a manufacturer of industrial pumps, reports the following results for the year ending August 31, 2008: \(\begin{array}{lr}\text { Retained earnings, September 1, } 2007 & \$ 1,752,000 \\ \text { Net income } & 378,000 \\ \text { Cash dividends declared } & 80,000 \\ \text { Stock dividends declared } & 100,000\end{array}\) Prepare a retained earnings statement for the fiscal year ended August \(31,2008 .\)