Ali Khalid owns and operates AAA Delivery Services. On January 1, 2007, retained earnings had a balance of \(\$ 854,450\). During the year, no additional capital stock was issued and dividends of \(\$ 38,400\) were paid. For the year ended December 31, 2007, AAA Delivery Services reported a net loss of \(\$ 11,875\). Prepare a retained earnings statement for the year ended December 31, 2007.

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