Prepare the statement of retained earnings of Centerpiece Arrangements for the year ended December 31, 2024.

Use the following information to answer Short Exercises S-F:1-12 through S-F:1-14.
Centerpiece Arrangements has just completed operations for the year ended December 31, 2024. This is the third year of operations for the company. The following data have been assembled for the business:

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Insurance Expense Service Revenue Utilities Expense Rent Expense Common Stock Cash Retained Earnings, January 1, 2024 Salaries Expense Accounts Payable 1,400 Office Supplies 16,000 Dividends 9,000 Accounts Receivable 7,200 Equipment 5,100 $ 4,500 70,000 $ 46,000 17,600 1,700 4,800 8,000 12,100