On December 1, 2022. Sandhill Distributing Company had the following account balances Debit Credit Cash $7,100 Accumulated Depreciation-Equipment $2,200 Accounts Receivable 4.500 Accounts Payable 1.400 inventory 11.900 Salaries and Wages Payable 1,000 Supplies 1,2001 Common Stock 15,000 Equipment 22.000 Retained Earings 24.100 $46.700 $46,700 During December, the company completed the following summary transactions. Paid $1,600 for salaries due employees, of which $600 is for December and $1,000 is for November salaries payable Dec 6 B Received $1,900 cash from customers in payment of account fno discount allowed). 10 Sold merchandise for cash $6,200. The cost of the merchandise sold was $4,300. 13 Purchased merchandise on account from Hecht Co. $7,800, terms 2/10, 1/30 15 Purchased supplies for cash $2,000. 18 Sold merchandise on account $11,700, terms 3/10, n/30. The cost of the merchandise sold was $7,700. 15 18 Purchased supplies for cash $2,000. Sold merchandise on account $11,700, terms 3/10, n/30. The cost of the merchandise sold was $7,700. 20 Paid salaries $1,900. 23 Paid Hecht Co. in full, less discount.. 27 Received collections in full, less discounts, from customers billed on December 18. Prepare a retained earnings statement for December. SANDHILL DISTRIBUTING COMPANY Retained Earnings Statement $