E11-16 (Algo) Preparing a Statement of Retained Earnings and Partial Balance Sheet and Evaluating Dividend Policy [LO 11-3, LO 11-5] The 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 $15; authorized 100,000 shares, issued 41,000 shares, 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) Net income for the year was $57,000. Required: 1-a. Prepare the statement of retained earnings for the year ended December 31. 1-b. Prepare the stockholders' equity section of the balance sheet at December 31. 2. Determine the number of shares of stock that received dividends. $ 615,000 186,000 34,000 82,000 20,000 3. Compute the ROE ratio for the current year, assuming total stockholders' equity was $635,000 on December 31 of the previous year.