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(millions) Revenue: Revenue $ 152 Expenses: Salary expense 26 Rent expense 24 Utilities expense 25 Total expenses 75 Net income (loss) 77 Requirement 2. Prepare the statement of retained earnings (with a proper heading) for 2018. (Enter all amounts in millions include a subtotalter the "Add" ne of the statement Vance Company Statement of Retained Earnings December 31, 2018 milions) Add: Subtotal Choose from any list or enter any number in the input fields and then click Check Answer parts 3 remaining Clear OSC Search or type URL per heading) for 2018. (Enter all amounts in millions. If a box is not used in the income statement, leave the box empty; do not select a label or 8 (mi i More Info 26 Vance incurred, during that same year, salary expense of $26 million, rent expense of $24 million, and utilities expense of $25 million. Vance declared and paid dividends of $11 million during the year. At December 31, 2018, Vance had cash of $145 million, accounts receivable of $60 million, property and equipment of S41 million, and other long-term assets of $20 million. At December 31, 2018, the company owed accounts payable of $65 million and had a long-term note payable of $27 million. Vance began 2018 with a balance in retained earnings of $78 million. At December 31, 2018, Vance had total stockholders equity of $174 million, which consisted of common stock and retained earnings. Vance has a year-end of December 31. 24 25 $ Print Done nings (with a proper he arnings B (millions) nput fields and then click Check Answer. Clear All