Exercise 3-57 Preparing a Retained Earnings Statement Oxmoor Corporation prepared the following adjusted trial balance. Oxmoor Corporation Adjusted Trial Balance December 31, 2019 Account Debit Credit Cash $13,300 Accounts Receivable 6,700 Prepaid Rent 54,000 Inventory 481,400 Long-Term Investment 110,900 Equipment 88,000 Accumulated Depreciation $23,700 Accounts Payable 111,700 Interest Payable 4,400 Note Payable (short-term) 50,000 Bonds Payable 180,000 Common Stock 300,000 Retained Earnings, 1/1/2019 45,635 50,000 Dividends Sales Revenue 583,900 277,000 Cost of Goods Sold 98,250 Wages Expense Rent Expense 50,000 Depreciation Exp 29,000 se Interest Expense 2,700 Income Taxes Expense 38,085 Totals $1,299,335 $1,299,335 Required: Prepare a retained earnings statement for Oxmoor for the year ended December 31, 2019 Oxmoor Corporation Retained Earnings Statement For the Year Ended December 31, 2019