170 Chapter 5 Retained earnings account balances: $150,000 December 31, 20X1 December 31, 20X2 $200,000 Sale of capital stock: 20x2 $10,000 20x3 $15,000 Dividends declared: 20X2 $20,000 20X3 $30,000 Dividends paid: 20X2 $15,000 20x3 $25,000 Operating results: 20X2 net income $70,000 20x3 net loss $10,000 Required: Using the information provided, prepare statements of retained earnings for 20X2 and 20X3