Jody Padget owns and operates Padget Advertising Services. On January 1, 2007, retained earnings had a balance of \(\$ 550,600\). During the year, Jody invested an additional \(\$ 50,000\) in exchange for capital stock and received dividends of \(\$ 40,000\). For the year ended December 31, 2007, Padget Advertising Services reported a net income of \(\$ 68,150\). Prepare a retained earnings statement for the year ended December 31, 2007.objs. 2,3