Blossom is a private camping ground near the Boulder Peak Recreation Area. It has compiled the following financial information as of December 31, 2022. Services revenues (from camping fees) $133,000 Dividends Sales revenues (from general store) 25,000 Notes payable Accounts payable 12,100 Administrative expenses Cash 14,700 Supplies Equipment 105,000 Common stock Retained earnings (1/1/2022) $7,500 55,000 136,000 2,400 32,000 8,500 Determine net income for Blossom for 2022. Prepare a retained earnings statement as of December 31, 2022. (List items that increase retained earnings first.)