Prepare a retained earnings statement.

• Cash $32,000
• Accounts Receivable 1,200
• Accounts Payable 3,000
• Allowance for Doubtful accounts 200
• Common Stock 25,000
• Cost of Goods Sold 23,000
• Retained Earnings 3,700
• Interest Revenue 1,000
• Sales Revenue 53,000
• Wages Expense 1,000
• Rent Expense 1,500
• Dividends 700