Complete the statement of retained earnings for 2011 and determine the dividends paid lastyear. Partial Income Statement

Complete the statement of retained earnings for 2011 and determine the dividends paid lastyear.

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Partial Income Statement Year Ending 2011 Sales Revenue COGS Fixed Costs SG&A Expenses Depreciation S350,000 $140,000 S43,000 S 28,000 S46,000 Partial Balance Sheet 12/31/2010 Assets: Liabilities Cash Accounts Rec Inventories Fixed Assets Acc. Depreciation Intangible Assets S16,000 28,000 S 48,000 $368,000 S142,000 S 82,000 Notes Payable Accounts Payable Long-Term Debt S 14,000 S 19,000 S190,000 Owners Equity: Retained Eamings $???7??7 Common Stock $130,000 Partial Balance Sheet 12/31/2011 Assets: Liabilities Cash Accounts Rec. Inventories Fixed Assets Acc. Depreciation Intangible Assets S 26,000 S19,000 53,000 $448,000 S ??77?77 S 82,000 Notes Payable Accounts Payable Long-Term Debt S12,000 S 24,000 $162,000 Owners Equity: Retained Earnings S ?7?7?7 Common Stock S180,000