e following account balances were selected from the records of beverage maker Blake Corporation at December 31 after all adjusting entries were completed Common stock (par $1 of which 1,000 shares are held as treasury stock) Additional paid-in capital-common stock Dividends Retained earnings, beginning of year Treasury stock at cost (1,000 shares) $405,000 172,000 20,000 68,000 20,000 Net income for the year was $36,000. Required: 1-a. Prepare the statement of retained earnings for the year ended December 31. BLAKE CORPORATION Statement of Retained Earnings For the Year Ended December 31 Retained Earnings, January 1 Add: Net Income Less. Dividends Retained Earnings, December 31