Review the Retained Earnings Statement (below) and explain why dividend declared for Sesnor Co. is $O in the consolidated balance Workpaper (Elimination) Entries Parent Plexi Co Subsidiary Sesnor Co Consolidated Balance Retained Earnings Statement Retained Earnings 1/1 Beg. Of Current Year 3,850,000 $110,500 (0 3,960,500 Plexi Co Sesnor Co $3,200,000 3,200,00o (2) Net Income from above $ 732,500 $ 935,000 $ 212,500 $ 140,250 $ 1,314,750 Divident Declared Plexi Co 450,000 450,000 Sesnor Co 250,000 $212,500 (1) $ 37,500 Retained Earnings 12/31 End of Current Year 4,132,500$ 3,885,000 $ 3,412,500 $ 323,000 $ 102,750 $ 4,825,250