value 0.50 points M4-15 Reporting a Statement of Retained Earnings [LO 4-4 The Sky Blue Corporation has the following adjusted trial balance at December 31. Debit Credit Cash S 1,250 2,200 2,500 3,200 13,000 Prepaid Insurance Notes Receivable (long-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Unearned Revenue Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense $ 3,000 5,620 1.100 3,100 640 2,600 ,080 320 43,830 320 22,000 1,500 4,420 1,600 6,200 3,100 nsurance Expense Rent Expense ncome Tax Expense Total $61,290 $61,290 Prepare a statement of retained earnings for the year SKY BLUE CORPORATION Statement of Retained Earnings Balance, January 1 Balance, December 31