Retained earnings portion of the statement of changes in shareholder's equity. The following information is for Pete's Pet Shop. (LO 4)

1. Retained earnings on January 1,2010 , were \(\$ 100,000\).

2. In January, revenues were \(\$ 50,000\) and expenses were \(\$ 60,000\).

3. In February, revenues were \(\$ 70,000\) and expenses were \(\$ 65,000\).

4. In March, revenues were \(\$ 90,000\) and expenses were \(\$ 55,000\).

5. The only dividends paid were in March for \(\$ 3,000\).

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Prepare the retained earnings portion of the statement of changes in shareholder's equity for the three months ended March 31, 2010, for Pete's Pet Shop.