1 of 2 < > 0.5/1 EE Prepare a retained earnings statement for Pharoah Lakes Park as of December 31, 2025. (List items that increase retained earnings first.) PHAROAH LAKES PARK Retained Earnings Statement For the Year Ended December 31, 2025 Retained Earnings, January 1 5600 Add Net income/(Loss) Less Expenses Net Income/(Loss) Save for Later 34720 29120 127280 34720 Attempts: 1 of 2 used Submit Answer B Question 1 of 2 0.5/1 E Current Attempt in Progress Pharoah Lakes Park is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financial information as of December 31, 2025. Service revenue (from camping fees) $137,700 Dividends $10,080 Sales revenue (from general store) 24,300 Notes payable 56,000 Accounts payable Cash Equipment 12,320 Expenses during 2025 127,280 9,520 Supplies 6,160 127,680 Common stock 44,800 Retained earnings (1/1/2025) 5,600 (a) Your answer is partially correct Prepare a retained earnings statement for Pharoah Lakes Park as of December 31, 2025. (List items that increase retained earnings first.) PHAROAH LAKES PARK Retained Earnings Statement For the Year Ended December 31, 2025 Retained Earnings January 1 56001 Add Het name/Bond 34720 29120 1272001 54720 Het come/fol Sem for Later Attempts: 1 of 2 used Submil