Oriole Ltd. has a September 30 fiscal year end and a 15% income tax rate. The following information is available for its 2021 year end: 1. 2. 3. Earned $546,000 of service revenue and incurred $465,500 of operating expenses. Interest expense was $2,000. On October 5, 2020. paid $51,600 of dividends that had been declared on September 25, 2020. On September 28,2021, declared $40,100 of dividends payable on October 8, 2021. Retained earnings on September 30, 2020, were $230,500. Issued common shares for $22.500 cash on July 2, 2021. 4. 5. Income Statement Service Revenue Operating Expenses Profit from Operations Interest Expense Profit Before Income Tax Income Tax Expense Net profit $ 5,46,000.00 $ 4,65,500.00 $ 80,500.00 $ 2,000.00 $ 78,500.00 $ 11,775.00 $ 66,725.00 Adjustment Entry Date Particulars Debit Credit $ 11,775.00 Sep-30 Income Tax Expense To Income Tax Payable ($ 78500 x 15%) $ 11,775.00 Prepare a statement of retained earnings. (List items that increase retained earnings first.) ORIOLE LTD. Statement of Retained Earnings $ $