Jack's Restaurant began operations on January 1, Year 1, with a total investment of $100,000 by its shareholders. The restaurant had a net loss its first year of business of $15,000. During Year 2 and Year 3, the business was profitable with net incomes of $25,000 and $50,000, respectively. The company paid $5,000 per year in dividends to its shareholders in Year 2 and Year 3. Required: A) Prepare a statement of retained earnings for the year ended December 31, Year 2. Be sure to use the proper format discussed in class and in the textbook. (4 MARKS) B) How much is total retained earnings on December 31, Year 3? SHOW YOUR WORK (2 MARKS) C) Explain the link between the statement of retained earnings and the statement of financial position. (2 MARKS)