$ NashvilleNets Inc. Adjusted Trial Balance December 31, 2018 Debit Credit 1,000,000 9,000,000 25,000,000 2,400,000 105,350,000 1,250,000 41,950,000 14,150,000 3,340,000 120,000 50,000 21,580,000 Common Stock, Par $ 0.10 APIC (Additional Paid in Capital in Excess of Par) Retained Earnings Dividends Paid Sales Sales Discounts Cost of Goods Sold (COGS) Selling Expenses Administrative Expenses Rent Revenue Loss on sale of equipment Income Tax Expense $ $ $ $ $ u Explain what the retained earnings statement calculates. Explain why dividends are only included in the retained earnings statement. Note: One of the errors in last months financials was the double counting of dividends (included in the retained earnings statement as well as the stockholders' equity section)