Use the data in Problem P11-56B to prepare the Shaw Cosmetics statement of retained earnings for the year ended December 31, 2012. Use the Statement of Retained Earnings for Maxim, Inc., in the End-of-Chapter Summary Problem as amodel.

Prior-period adjustment- S 9,000 Interest expense... 25,000 10,000 16,000 Income tax expense (saving): 25,950 Dividend revenue Continuing operations Income from discontinued operationS Extraordinary loss Treasury stock, commorn 8,000 (13,500) (5,000 shares at cost).15,000 81,000 570,000 G eneral expenses Loss on sale of plant asset15,000 Sales revenue... Income from discontinued Preferred stock, 6%, $30 par, Extraordinary loss Retained earnings, beginning 20,000 30,000 OSS34,000 197,000 93,000 operations as originally reported. Selling expenses Common stock, no par, 1,000 shares issued.. Cost of goods sold. 30,000 shares authorized and issued.. 316,000 390,000