Kingbird Limited is a private corporation reporting under ASPE. At December 31, 2021, its general ledger contained the following summary data:

Cost of goods sold		$1,239,000
Interest expense		36,800
Interest revenue		15,400
Operating expenses		215,000
Retained earnings, January 1		546,100
Sales		1,660,000

Additional information:
1.		In 2021, common share dividends of $24,900 were declared on June 30 and December 31. The dividends were paid on July 8, 2021, and January 8, 2022, respectively.
2.		The company's income tax rate is 20%.

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Your answer is partially correct. Prepare a statement of retained earnings for 2021. (List items that increase retained earnings first.) KINGBIRD LIMITED Statement of Retained Earnings Year Ended December 31, 2021 Retained Earnings, January 1 $ 546100 Add : Profit/(Loss) 147680 693780 Less Cash Dividends Declared 24900 Retained Earnings, December 31 668880