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Using Excel to Prepare a Statement of Retained Earnings PROBLEM For the year ended December 31, 2024, Su Song Limited, a private company, reported net income and declared and paid dividends during the year. Information concerning the activity and the January 1, 2024 balance is provided here. \begin{tabular}{lr} Retained earnings, January 1, 2024 & $496,000 \\ Net income & 318,000 \\ Dividends declared & 126,000 \\ Dividends paid & 98,000 \end{tabular} Student Work Area Required: Provide input into cells shaded in yellow in this template. Input the required mathematical formulas or functions with cell references to the Problem area or work area as indicated. a. Prepare a statement of retained earnings for the year. \begin{tabular}{c} Su Song Limited \\ Statement of Retained Earnings \\ Year Ended December 31, 2024 \\ \hline \end{tabular} b. How would this statement change if Su Song were a publicly traded company? would be required. Dronaro a ctatomont of rotainod aprninge for tho voar b. How would this statement change if Su Song were a publicly