Canva Company was reviewing his company's activities at the end of the year (2022) and decided to prepare a retained earnings statement. At the beginning of the year his assets were $535,000, liabilities were $131,000, and common stock was $127,000. The net income for the year was $260,000. Dividends of $220,000 were paid during the year. Prepare a retained earnings statement in good form. Need to Check my work

Retained Earnings Statement For the Year Ended December 31, 2022 Retained Earnings, Beginning $ 277000 Add Net Income / (Loss) 260,000 537000 Less Dividends 220,000 Retained Earnings, Ending V $ $ 317,000