(a2) Prepare a retained earnings statement. (List items that increase retained earnings first.) : BLOSSOM DEPARTMENT STORE Retained Earnings Statement

Prepare a retained earnings statement. (List items that increase retained earnings first.) Blossom Department Store is located in midtown Metropolis. During the past several years, net income has been declining because suburban shopping centers have been attracting business away from city areas. At the end of the company's fiscai year on November 30,2025 , these accounts appeared in its adjusted trial balance. Freight-Out 3,150 Equipment. 110,000 Depreciation Expense 6,700 Dividends 6,000 Gain on Disposal of Plant Assets 1,000 Income Tax Expense 5,000 Insurance Expense 4,500 Interest Expense 2,500 Inventory 13.100 Notes Payable 21,750 Prepaid Insurance 3000 Advertising Expense 16,750 Rent Expense 17,000 Retained Eamings 19.690 Salaries and Wages Expense 59,440 Salaries and Wages Poyable 3.000 Sales Returns and Allowances 10,000 Sales Revenue 452.000 Utilities Expense 5,300 BLOSSOM DEPARTMENT STORE Income Statement For the Year Ended November 30, 2025 Soles Sales Revenue $ Less : Soles Returns and Allowances. Net Sales Cost of Goods Sold Gross Profit Operating Expenses Freight-Out Depreciation Expense Insurance Expense Advertising Expense Rent Expense Salaries and Woces Expense Utilities Expense $ 3150 59440 0.2/1 Advertising Expense Total Operating Expenses Income From Operations Other Revenues and Gains Gain on Disposal of Plant Assets 1000 Other Expenses and Losses Interest Expense Income Before Income Twes Income Tax Expense Net income/(Loss) eTextbook and Media Solution List of Accounts