Question: I need help putting the following information into a Retained Earnings Statement. Thanks! Presented below is information related to D. B. Stanley Company for 2018.

I need help putting the following information into a Retained Earnings Statement. Thanks!

Presented below is information related to D. B. Stanley Company for 2018.

Retained earnings balance, January 1, 2018 $539,000

Sales for the year 13,750,000

Cost of goods sold 9,350,000

Interest revenue 38,500

Selling and administrative expenses 2,585,000

Write-off of goodwill (not tax deductible) 451,000

Income taxes for 2018 497,750

Gain on the sale of investments (normal recurring) 60,500

Loss due to flood damage-extraordinary item (net of tax) 214,500

Loss on the disposition of the wholesale division (net of tax) 242,000

Loss on operations of the wholesale division (net of tax) 49,500

Dividends declared on common stock 137,500

Dividends declared on preferred stock 38,500

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