Jolly Roger Inc. had the following account balances on December 31. Common Stock, $1 par, 380,000 380,000 shares authorized issued and outstanding Paid in Capital in excess of par, Common 436,000 Treasury Stock, Common Paid in Capital, Treasury Stock 16,000 5,000 Retained Earnings, Jan 1 270,000 Prepare the Statement of Retained Earnings and the stockholder's equity section of the balance sheet assuming Jolly Roger paid $50,000 in dividends and earned $198,000 in net income during the year. Jolly Roger Statement of Retained Earnings For the Year Ended December 31 Stockholder's Equity: Jolly Roger Balance Sheet December 31 Total Stockholder's Equity