Metlock Inc. has recorded all necessary adjusting entries, except for income tax expense, at its fiscal year end, July 31, 2021. The following information has been taken from the adjusted trial balance: $22.000 $4,000 60.000 104,500 219,000 328.200 Accounts payable Cash dividends-common Common shares Cost of goods sold Dividends payable Income tax expense Income tax payable 301,000 Interest expense Notes payable Retained earnings (Aug. 1, 2020) Salaries expense Sales Supplies expense Unearned revenue 138,500 14,600 662,000 26,000 11,000 3,200 12000 All accounts have normal balances and total assets equal $825.000. Metlock has a 20% income tax rate. (a) Prepare a statement of retained earnings. (List items that increase retained earnings first.) Prepare a statement of retained earnings. (List items that increase retained earnings first.) METLOCK INC. Statement of Retained Earnings $ + $ Save for Later Attempts: 0