?$2\mathrm{.}4$

Jazz Inc. has the following statements of retained earnings for the years ended December $31,2008$ ?to December $31,2010.$

$$

$2010$

$2009$

$2008$

$2007$

Statement of Retained Earnings

Retained earnings, $1/1$

$\_\_\_\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

$300,000$

$$

Net income $($loss$)$

$(75,000)$

$\_\_\_\_\_\_\_\_$

$100,000$

$$

Dividends paid

$\_\_\_\_\_\_\_\_$

$56,000$

$45,000$

$$

Retained earnings, $12/31$

$290,000$

$400,000$

$\_\_\_\_\_\_\_\_$

$300,000$

Jazz Inc. has the following condensed balance sheets as at December $31$ ?from $2008$ ?to $2010.$

$$

$2010$

$2009$

$2008$

Condensed Balance Sheet

Current assets

$150,000$

$\_\_\_\_\_\_\_\_$

$125,000$

Property, plant, and equipment

$700,000$

$800,000$

$635,000$

Other assets

$40,000$

$50,000$

$\_\_\_\_\_\_\_\_$

Total assets

$\_\_\_\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

Current liabilities

$100,000$

$\_\_\_\_\_\_\_\_$

$89,000$

Long$-$term debt

$\_\_\_\_\_\_\_\_$

$400,000$

$250,000$

Total liabilities

$400,000$

$550,000$

$\_\_\_\_\_\_\_\_$

Common shares

$\_\_\_\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

Retained earnings

$\_\_\_\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

Total shareholders$$ ?equity

$\_\_\_\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

Total liabilities and shareholders$$ ?equity

$\_\_\_\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

$\_\_\_\_\_\_\_\_$

Required:

$($a$)$Complete the statement of retained earnings for each year from $2008$ ?to $2010.$

$($b$)$Complete the balance sheet for each year from $2008$ ?to $2010,$ ?given that the common shares balance for Jazz Inc. was $$200,000$ ?in all three years.