Climate Control Systems Co. offers its services to residents in the Spokane area. Selected accounts from the ledger of Climate Control Systems the fiscal year ended December 31, 2018, are as follows: Retained Earnings Dividends Dec. 31 31,600Jan. 1 (2018) 603,600 Mar. 31 7,900 Dec. 31 31,600 Dec. 31 316,000 June 30 7,900 Sept. 30 7,900 Dec. 31 7,900 Dec. 31 Dec. 31 Income Summary 590,900 Dec. 31 316,000 906,900 Prepare a retained earnings statement for the year. Climate Control Systems Co. Retained Earnings Statement For the Year Ended December 31, 2018 Retained earnings, January 1, 2018 Net income Dividends 31,600 $603,600 Change in retained earnings Retained earnings, December 31, 2018