Stone Culture Corporation was organized on January 1, 2009. For its first two years of operations, it reported the following:
Net income for 2009 .......... $34,000
Net income for 2010 .......... 42,000
Dividends for 2009 ............ 14,200
Dividends for 2010 ............ 18,700
Total assets at the end of 2009 ....... 130,000
Total assets at the end of 2010 ....... 250,000

Required:
On the basis of the data given, prepare a statement of retained earnings for 2010. Show computations.