Instructions Retained Earnings Statement Selected accounts from the ledger of Restoration Arts for the fiscal year ended April 30, 2018, are as follows: Restoration Arts Score: 31/53 Retained Earnings Statement Retained Earnings For the Year Ended April 30, 2018 Apr. 30 31.400 May 1 (2017) 467,500 1 Retained earnings, May 1, 2017 $467,500.00 Apr. 30 7,800 2 Net income 3 Dividends Dividends July 31 1,950 Apr. 30 7,800 4 Change in retained earnings 5 Retained earnings, April 30, 2018 Oct. 31 1,950 Jan. 31 1,950 Labels and Amount Descriptions April 30 1,950 Labels Income Summary April 30, 2018 For the Year Ended April 30, 2018 Apr. 30 198,400 Apr. 30 167,000 Apr. 30 31,400 Amount Descriptions Change in retained earnings Dividends Net income Net loss Prepare a retained earnings statement for the year. Negative amount should be indicated by the minus sign. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Retained earnings, April 30, 2018 Retained earnings, May 1, 2017