ndow shows what is correct and incorrect for the work you have completed so far. all of the work you have done so far is correct, you may not have completed everything. value: 1.25 points The following account balances were selected from the records of beverage maker Blake Corporation at December 31 after all adjusting entries were completed: Common stock (par $15; authorized 100,000 shares, issued 32,000 shares, of which 1.100 shares are held as treasury stock) Additional paid-in capital common stock Dividends Retained earnings, beginning of year Treasury stock at cost (1,100 shares) $480,000 177.000 25,000 73,000 22,000 Net income for the year was $43,500 Required: 1-a. Prepare the statement of retained earnings for the year ended December 31 Answer is complete but not entirely correct. BLAKE CORPORATION Statement of Retained Earnings For the Year Ended December 31 Retained Earnings, January 1 Add: Net Income Less: Dividends Retained Earnings, December 31 $ 73,000 42,000 (25.000) $90,000 1-b. Prepare the stockholders' equity section of the balance sheet at December 31. (Amounts to be deducted should be indicated by a minus sign.) MacBook Air esc