Gold Ltd had the following equity accounts at 1 July 2014:

Share capital (200,000 shares) General reserve Retained earnings $400,000 32,500 18,300 During the year ended 30 June 2015, the following occurred 1. A profit of $38,700 was generated. 2. $8,800 was transferred to the general reserve. 3. An interim dividend of 4c per share was declared and paid. 4. A final dividend of 6c per share was declared Required Prepare a statement of the changes in retained earnings. (List items that increase retained earnings first.)