Brief Exercise 3-10 The adjusted trial balance of Parsons Compan Stock is the balance as of January 1. Stock $15,600, Dividends $7,000, Service Revenue $37,000, y at December 31, 2017, includes the following accounts: Common Salanes and Wages Expense $16,00, Insurance Expense $2.000, Renk Expense $4,000, Suplies Expense $1,500, and Depreciation Expense $1,300. The balance in Common Prepare a retained earnings statement for the year assuming net income is $12,200 for the year and Retained Earmings is $7,240 on January 1. owner's equity first.) PARSONS COMPANY Retained Earnings Statement