ACCOUNTING CYCLE Creating a basic equity statement On December 31, Jackson Co. had the following list of accounts and their respective annual balances. $ 21,600 5,800 Accounts Payable Accounts Receivable Beginning Retained Earnings Capital Stock Cash 24,300 $ 24,600 Dividends 57,400 Legal Expense 54,400 Prepaid Rent 44,600 Rent Expense 43,100 Supplies 49,300 O Supplies Expense 12,600 Utilities Expense 6,300 24,200 1,300 O Consulting Revenue Deferred Revenue 1,500 Required: Complete the statement of changes in retained earnings below. Hint: First compute net income. Jackson Company Statement of Changes in Retained Earnings For Year Ended December 31 Beginning Retained Earnings $ 54,400 (Choose one) Change in Retained Earnings Endina Retained Farninne