Gray Corporation began operations on January 1, 2022. The following information is available for Gray on December 31, 2022. Accounts payable Accounts receivable Advertising expense Cash Common stock Dividends Equipment $5,000 2,000 4,000 3,100 15,000 2,500 26,800 Notes payable Rent expense Retained earnings Service revenue Supplies Supplies expense $ 7,000 10,000 ? 25,000 1,900 1,700 Prepare a retained earnings statement for Gray Corporation. (List items that increase retained earnings first.) GRAY CORPORATION Retained Earnings Statement For the Year Ended December 31, 2022 Retained Earnings, January 1 Add: Net Income /(Loss) > Less : Dividends