At December 31,2020 , the following account balances were selected from the records of beverage maker Blake Corporation after all adjusting entries were completed: Net income for the year was $48,000 Required: 1. Prepare the statement of retained earnings for the year that ended on December 31,2020 , and the shareholders' equity section of the balance sheet at December 31, 2020. (Amounts to be deducted should be indicated wiith minus signi)