Problem 2-2 (Part Level Submission) These items are taken from the financial statements of Novak Corp. for 2017. $35,660 Retained earnings (beginning of year) 2,140 Utilities expense 70,660 Equipment 20,260 Accounts payable 13,950 Cash 7,360 Salaries and wages payable 12,000 Common stock 12,000 Dividends 71,380 Service revenue 7,860 Prepaid insurance Maintenance and repairs expense 1,660 Depreciation expense 3,100 Accounts receivable 13,660 Insurance expense 2,700 Salaries and wages expense Accumulated depreciation-equipment 40,380 21,450 (a2) Prepare a retained earnings statement for the year ended December 31, 2017. (List items that increase retained earnings first.) Novak Corp. Retained Earnings Statement