I would like assistance with creating a Retained Earnings Statement for the following:

Question: Problem 5-4A (Part Level Submission) Wolford Department Store is located in midtown Metropolis.

Problem 5-4A (Part Level Submission)

Wolford Department Store is located in midtown Metropolis. During the past several years, net income has been declining because suburban shopping centers have been attracting business away from city areas. At the end of the companys fiscal year on November 30, 2017, these accounts appeared in its adjusted trial balance.

Accounts Payable		$ 33,768
Accounts Receivable		21,672
Accumulated DepreciationEquipment		85,680
Cash		10,080
Common Stock		44,100
Cost of Goods Sold		774,018
Freight-Out		7,812
Equipment		197,820
Depreciation Expense		17,010
Dividends		15,120
Gain on Disposal of Plant Assets		2,520
Income Tax Expense		12,600
Insurance Expense		11,340
Interest Expense		6,300
Inventory		33,012
Notes Payable		54,810
Prepaid Insurance		7,560
Advertising Expense		42,210
Rent Expense		42,840
Retained Earnings		17,892
Salaries and Wages Expense		147,420
Sales Revenue		1,139,040
Salaries and Wages Payable		7,560
Sales Returns and Allowances		25,200
Utilities Expense		13,356

Additional data: Notes payable are due in 2021.

Prepare a multiple-step income statement. (List other revenues before other expenses.)

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Amount Wolford department Store Income Statement Amount sales Revenue $ Less: Sales Returns and Allowances $ Net Sales Revenue Amount 1,139,040 25,200 $ 1,113,840 Cost of Goods sold Gross Profi $ IS 774,018 339.822 $ $ S 7,812 17,010 42.210 $ 67,032 Operating expenses selling expenses Fright Out Depreciation Expense Advertaisement Expenses Administrative Expenses Insurance Expense Rent Expenses Salries and wages Expenses Utilities Expenses Total Operating expenses $ 11,340 $ 42,840 $ 147,420 $ 13,356 $ 214,956 $ 281,988 Income from Operations $ 57,834 Non-Operating or Other Gain on Disposal of Plant Assets Interest Expense Total Non-opearting 2,520 (6,300) $ (3,780) $ Income before Income Tax Income Tax expense Net Income for the year 54,054 12,600 41,454 $