Find retained earning $($current year$)$ through preparing an income statement.

Cash

$ $225,000$

Long$-$term debt

$334,000$

Sales

$573,000$

Accounts payable

$155,000$

Operating expenses

$145,000$

Buildings and equipment

$895,000$

Notes payable

$75,000$

Accounts receivable

$153,000$

Interest expense

$4,750$

Accrued expenses

$7,900$

Common stock

$289,000$

Cost of goods sold

$297,000$

Inventory

$99,300$

Taxes

$50,500$

Accumulated depreciation

$263,000$

Prepaid expenses

$14,500$

Retained earnings$-$prior year

$187,150$

Retained earnings $-$current year