Pharoah Department Store is located in midtown Metropolis. During the past several years, net income has been declining because suburban shopping centers have been attracting business away from city areas. At the end of the company's fiscal year on November 30, 2022, these accounts appeared in its adjusted trial balance. Accounts Payable $ 26,400 Accounts Receivable 17.100 68,000 Accumulated Depreciation-Equipment Cash Common Stock 8,000 35,000 Cost of Goods Sold 609,960 Freight-Out 6,440 Equipment 159,160 Depreciation Expense 13,700 12.000 Dividends Gain on Disposal of Plant Assets 2,000 Income Tax Expense 10,000 9.000 Insurance Expense Interest Expense 5,000 Inventory 26,100 Notes Payable 43,500 Prepaid Insurance 6,000 Advertising Expense 33,500 Rent Expense 34,000 14,100 118,740 Retained Earnings Salaries and Wages Expense Sales Revenue Salaries and Wages Payable Sales Returns and Allowances 904,000 6,000 20.000 Utilities Expense 10,300 (a2) Prepare a retained earnings statement. (List items that increase retained earnings first.) PHAROAH DEPARTMENT STORE Retained Earnings Statement $