$\backslash$table$[[$Accounts$,$Curent Year,Prior Year$],[$Accounts Payable,$$1,500,000,$$$2,500,000$

The Company$$s policy on Income Tax Expense is to pay the full amount when due on March $15$ of the following year. Since it was not been paid in the year incurred, it is classified on the Balance Sheet an Income Tax Payable.

$$ Round to the nearest dollar.

$$ The year$-$end market price per share of common stock is $$47$ for the current year.

$*$Depreciation on Equipment, Rent, Insurance, and Utility Expense are allocated $80\%$ to Selling and $20\%$ to General and Administrative.

$$ The company$$s policy is to use four classifications of expenses on the Income Statement $$ Cost of Goods Sold, Selling, General and Administrative, and Income Tax. General and Administrative catch all costs that do not clearly fit in the other classifications

The preferred stock was issued to retire $$5,500,000$ of bonds. This was considered a non$-$cash financing activity. There were no other non$-$cash financing or investing activities

$$ In the current year the Company purchased Regor Stock, land for future use, building improvements, and office equipment.

$$ In the current year, the Company paid dividends, the current portion of the mortgage, and purchased treasury stock.

With this information, please create a statement of retained earnings for the current and prior year