At the end of the first year of operations (December 31, 2021), the following financial data for APEC Aerospace Corporation are available: Accounts Payable Accounts Receivable Cash $ 33,630 10,000 14,400 Common Stock 10,500 Dividends 1,600 Equipment 84,000 Notes Payable 51,970 Operating Expenses 65,000 Other Expenses 9,100 Sales Revenue 97,500 Supplies 9,500 2. Prepare a statement of retained earnings for the year ended December 31. APEC AEROSPACE CORPORATION Statement of Retained Earnings Retained Earnings, January 1 Retained Earnings, December 31