Prepare a retained earnings statement for Sandhill Corporation.

Sandhill Corporation began operations on January 1, 2025. The following information is available for Sandhill on December 31, 2025. Accounts payable Accounts receivable Advertising expense Cash Common stock Dividends Equipment $9,700 6,900 4,200 8,000 19,900 7,400 31,700 Notes payable Rent expense Retained earnings Service revenue Supplies Supplies expense $16,800 14,900 35,000 6,800 1,500 Prepare a retained earnings statement for Sandhill Corporation. (List items that increase retained earnings first) SANDHILL CORPORATION Retained Earnings Statement For the Year Ended December 31, 2025 Retained Earnings, January 1 Add Less Net Income / (Loss) Dividends Retained Earnings, December 31