$Retained Earnings Statement

Climate Control Systems Co. offers its services to residents in the Spokane area. Selected accounts from the ledger of Climate Control Systems for thefiscal yearended December 31, 2018, are as follows:

Retained EarningsDividendsDec. 31160,000Jan. 1 (2018)4,150,800Mar. 3140,000Dec. 31160,000Dec. 31700,000June 3040,000Sept. 3040,000Dec. 3140,000

Income SummaryDec. 314,530,000Dec. 315,230,000Dec. 31700,000

Prepare a retained earnings statement for the year.

Climate Control Systems Co.Retained Earnings StatementFor the Year Ended December 31, 2018Retained earnings, January 1, 2018

$Net income

$Dividends

Change in retained earnings

Retained earnings, December 31, 2018

$