Sandy Corporation, a manufacturer of chemical compounds, reports the following results for the year ended October 31, 2015:
Retained earnings, November 1, 2014 . . . . . . . . . . . . . . . . . . . . . . $796,750
Net loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 215,000
Cash dividends declared-common . . . . . . . . . . . . . . . . . . . . . . . 15,000
Cash dividends declared-preferred . . . . . . . . . . . . . . . . . . . . . . . 30,000
Prepare a retained earnings statement for the fiscal year ended October 31, 2015.