$($b$)$Your answer is partially correct.

Prepare the Statement of Changes in Equity. $($List items that increase retained earnings first.$)$

WILDHORSE GROVE HARDWARE

STATEMENT OF CHANGES IN EQUITY

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List of Accounts

Prepare the Statement of Changes in Equity. $($List items that increase retained earnings first.$)$

WILDHORSE GROVE HARDWARE

STATEMENT OF CHANGES IN EQUITY

For the Year Ended December $31$Cullumber Grove Hardware has the following balances in the company ledgers for the year ending December $31$ :Prepare the Statement of Changes in Equity. $($List items that increase retained earnings first.$)$