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Statement of Retained Earnings Use the following data to prepare a statement of retained earnings for Schauer Corporation. Total retained earnings originally reported as of January 1 Stock dividends declared during the year Cash dividends declared during the year Net income for the year $659,300 53,200 66,500 178,600 SCHAUER Statement of Retained Earnings For the Year Ended December 31 ORPORATION Add: Less Stock Dividends Declared Retained Earnings, January 1 Net Income Cash Dividends Declared Retained Earnings, December 31