M1-12 (Algo) Preparing a Statement of Retained Earnings [LO 1-2) Stone Culture Corporation was organized on January 1 2020. For its first two years operations, reported the following: ok Net Income for 2020 $ 57,000 Net Income for 2021 62.000 Dividende for 2020 23,500 Dividends for 2021 Total assets at the end of 2020 37.000 142,000 Total assets at the end of 2021 259,000 Required: On the basis of the data given, prepare a statement of retained earnings for both 2020 (its first year of operations) and 2021. nt nces Complete this question by entering your answers in the tabs below. 2020 2021 On the basis of the data given, prepare a statement of retained earnings for 2020. STONE CULTURE CORPORATION Statement of Retained Earnings For the Year Ended December 31, 2020 Retained Earnings, January 1, 2020 Add: Net Income Less: Dividends Retained Earings, December 31, 2020 2021 >