E3-21A (similar to) Question Help Beta Guard, Inc., began the year with $20,000 of common stock and $22,000 of retained earnings. On March 5, investors bought $10,000 of additional stock in the business. On June 22, the business purchased land valued at $40,000. The income statement for the year ended December 31, 2018, reported a net loss of $10,000. During this fiscal year, the business paid $250 for dividends each month. Read the requirements Requirement 1. Prepare Beta Guard's statement of retained earnings for the year ended December 31, 2018. (If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.) Complete the statement of retained earnings Beta Guard, Inc. Statement of Retained Earnings For the Year Ended December 31, 2018 Retained earnings, January 1, 2018 Less: Net loss S 22,000 S 10,000 Dividends 3,000 Retained earnings, December 31, 2018