SIMON CORPORATION
Statement of Retained Earnings
For the year ended December 31,2001
Retained earnings,Jan.1,2001
As originally reported $447,000
Add:Prior period adjustment:Correction of 2000 error 25,000
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As adjusted $472,000
Add:Net income for the year 188,000
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Subtotal $660,000
Less:Cash dividends:
Preferred stock($5 per share) $17,500
Common stock ($1 per share) 12,500
10% stock dividend 20,000 (50,000)
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Retained earnings,Dec.31,2001(see Note1) $610,000
Note1:Retained Earnings Restrictions
The corporation has limiting the payment of dividenes because
of a planned plant expansion.Retained earnings restricted for
this purpose amount to $70,000.
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