Daily Driver, Incorporated (DDI), operates a driving service through a popular ride-sharing app. DDI has prepared a list of unadjusted account balances at its December 31 year-end. You have reviewed the balances and made notes shown in the right column.

DAILY DRIVER, INCORPORATED
Unadjusted Trial Balance
At December 31
Account Name	Debit	Credit	Notes
Cash	$ 1,950		This equals the bank balance.
Supplies	240		Only windshield washer fluid that cost $30 remains at December 31.
Prepaid Insurance	2,150		This amount was paid January 2 for car insurance from January 1 through December 31 of this year.
Equipment	78,000		This is the cars purchase price.
Accumulated Depreciation		$ 4,680	The car will be two years old at the end of December.
Salaries and Wages Payable		0	DDI has not yet paid or recorded $1,180 of salary for December.
Income Tax Payable		0	DDI paid all its taxes from last year.
Common Stock		44,000	DDI issued 8,800 shares at $5 each.
Retained Earnings		6,380	This is the total accumulated earnings to January 1 of this year.
Service Revenue		42,370	All revenue is received in cash when the service is given.
Salaries and Wages Expense	12,600		DDIs only employee receives a salary of $1,180 for December.
Supplies Expense	290		This is the cost of windshield washer fluid used to November 30.
Depreciation Expense	0		The cars benefits are being used up about $4,680 per year.
Insurance Expense	0		No car insurance has been paid for next year.
Fuel Expense	2,200		All fuel is paid for in cash.
Income Tax Expense	0		DDIs tax rate is 20% of income before tax.
Totals	$ 97,430	$ 97,430

Prepare a statement of retained earnings for the year ended December 31.

OPTIONS FOR FIRST BOX:

• At December 31
• For the Year Ended December 31

OPTIONS FOR THIRD BOX:

• Add: Net Income
• Add: Net Loss
• Less: Net Income
• Less: Net Loss

OPTIONS FOR FOURTH BOX:

• Add: Dividends
• Less: Dividends

DAILY DRIVER, INCORPORATED Statement of Retained Earnings Beginning Balance Ending Balance $ 0