Prepare a retained earnings statement. $($List items that increase retained earnings first.$)$

Marigold 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 company$$s fiscal year on November $30,2022,$ its accounting records included the following accounts and adjusted balances.

Accounts Payable $ $26,264$

Accounts Receivable $16,856$

Accumulated Depreciation$$Equipment $66,640$

Advertising Expense $32,830$

Cash $7,840$

Common Stock $34,300$

Cost of Goods Sold $602,014$

Freight$-$Out $6,076$

Equipment $153,860$

Depreciation Expense $13,230$

Dividends $11,760$

Gain on Disposal of Plant Assets $1,960$

Income Tax Expense $9,800$

Insurance Expense $8,820$

Interest Expense $4,900$

Inventory $25,676$

Notes Payable $42,630$

Prepaid Insurance $5,880$

Rent Expense $33,320$

Retained Earnings $13,916$

Salaries and Wages Expense $114,660$

Salaries and Wages Payable $5,880$

Sales Returns and Allowances $19,600$

Sales Revenue $885,920$

UtilitiINCOME STATEMENT

AT THE END OF FISCAL YEAR NOV. $30$

Amount Amount

Revenues:

Sales Revenue $ $885,920$

Less: Sales Returns and allowances $ $19,600$

Net Sales Revenue $ $866,320$

Less: Cost of Goods Sold $ $602,014$

Gross Profit $ $264,306$

Less: Operating Expenses

Freight Out $ $6,076$

Depreciation Expenses $ $13,230$

Insurance Expenses $ $8,820$

Advertising Expenses $ $32,830$

Salaries and Wages Expenses $ $114,660$

Rent Expenses $ $33,320$

Utilities Expenses $ $10,388$

Total Operating Expenses $ $219,324$

Operating Income $ $44,982$

Non$-$Operating and others

Gain on Disposal of Plants Assets $ $1,960$

Interest Expenses $ $-4,900$

Net Income Before Taxes $ $42,042$

Income Taxe Expenses $ $9,800$

Net Income $ $32,242$es Expense $10,388$