Following is a list of financial statement items and amounts for Tim Burrs Tree Service as of 12/31/X3, the end of its first year in operation.

2.	Prepare the statement of retained earnings for the year ended December 31, 20X3.

Accounts Receivable	$	41,600
Accounts Payable		31,600
Cash		10,160
Common Stock		21,600
Notes Payable		10,320
Equipment		50,800
Service Revenue		108,000
Fuel Expense		10,160
Rent Expense		11,500
Advertising Expense		5,160
Salaries and Wages Expense		21,600
Retained Earnings		?
Dividends		20,540