Judy Flint owns and operates Derby Advertising Services. On Janu

Judy Flint owns and operates Derby Advertising Services. On January 1, 2011, Retained Earnings had a balance of $290,000. During the year, Judy invested an additional $100,000 in exchange for capital stock. In addition, $40,000 of dividends were paid during the year. For the year ended December 31, 2011, Derby Advertising Services reported a net income of $93,750. Prepare a retained earnings statement for the year ended December 31, 2011.

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