Exercise $11-17($Algo$)$ Preparing a statement of retained earnings LO C$3$

Prepare a statement of retained earnings for Tidal Company for the current year ended December $31$ using the following data.

Note: Amounts to be deducted should be indicated by a minus sign.

Cash dividends declared and paid in current year $ $11,200$

Retained earnings at December $31,$ prior year $66,400$

Net income in current year $39,400$