Retained Earnings and Owner’s Equity Statement Preparation

Resource: ABC Financial Data Excel® spreadsheet, ABC Supplemental Data, and the values from the Week 2 Individual Assignment

Prepare a statement of Retained Earnings and Comprehensive Income using the values from Week 2.

* Apply error corrections to the retained earnings statement.
*Calculate foreign currency translation using the X-Rates Historic Lookup site at https://www.x-rates.com.
*Apply hedging or derivative transaction into statement.

Prepare a Statement of Owner’s Equity, referring to the balance sheet results as well as the statements prepared for the Week 2 Individual Assignment.