The Retained Earnings, Dividends, and Income Summary accounts for New Look Hair Salon, Inc., are shown in T account form below. The closing entries have been recorded for the year ended December 31, 2009. Prepare a statement of retained earnings for New Look Hair Salon, Inc. 

Transcribed Image Text:

RETAINED EARNINGS INCOME SUMMARY 12/31/09 43,000 12/31/09 22,000 Bal. 12/31/09 9,500 12/31/08 26,000 12/31/09 22,000 38,500 12/31/09 65,000 Bal. DIVIDENDS 3,000 3,500 3,000 12/31/09 4/1/09 9,500 7/1/09 10/1/09 Bal.