As of December 31 of the current year, Armani Company's records show the following. Cash Accounts receivable Supplies Equipment $ 11,000 10,000 7,000 6,000 Accounts payable 13,000 Common stock 15,000 Retained earnings, December 31, prior year 4,000 Retained earnings, December 31, current year 6,000 Dividends 14,000 Consulting revenue 35,000 Rental revenue 24,000 Salaries expense 21,000 Rent expense 13,000 Selling and administrative expenses 9,000 Required: Prepare the statement of retained earnings for Armani Company for the current year ended December 31. ARMANI COMPANY Statement of Retained Earnings For Current Year Ended December 31 Retained earnings, December 31, prior year Add: Net income $ 4,000 4,000 Retained earnings, December 31, current year 4,000