Pippin, Inc. had beginning retained earnings of $$260,000$ on January $1,2025.$ During the year, Pippin, Inc. declared and paid $$160,000$ of cash dividends and earned $$170,000$ of net income. In addition, th company reports on January $1,2025,14,000$ shares of common stock at a par value of $$6$ per share. The company issued this stock at par value, and there were no additional changes in common stock throughout the year. Prepare a statement of retained earnings and statement of stockholders' equity for Pippin, Inc. for the year ende becember $31,2025.$

$\backslash$table$[[\backslash$table$[[$Pippin$,$ Inc.$],[$Statement of Retained Earnings$],[$Year Ended December $31,2025]],,],[$Retained Earnings, January $1,2025,$$$,260,000],[$Net income for the year,,$170,000],[,,430,000],[$Dividends declared,,$(160,000)$