Prepare retained earnings statement for the year. NOVAK FASHION CENTER Retained Earnings Statement $ $ NOVAK FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2020 Debit Credit Cash $33,780 Accounts Receivable 37.420 Inventory 48,720 Supplies 9,220 Equipment 140.440 Accumulated Depreciation Equipment $26,720 Notes Payable 54720 Accounts Payable 52.220 Common Stock 93,720 Retained Earnings 11.720 Sales Revenue 766,000 Sales Returns and Allowances 4.200 Cost of Goods Sold 495,400 Salaries and Wages Expense 138,040 Advertising Expense 27/760 Utilities Expenses 15,960 Maintenance and Repairs Expense 12. 100 Delivery Expense 16.700 Rent Expense 25,360 Totals $1,005,100 $1,005,100 Adjustment data: 1. Supplies on hand totaled $5.220. 2. Depreciation is $17,040 on the equipment. 3. Interest of $12,030 is accrued on notes payable at November 30. Other data: 1. Salaries expense is 70% selling and 30% administrative, 2. Rent expense and utilities expenses are 80% selling and 20% administrative. 3. $30,000 of notes payable are due for payment next year. Maintenance and repairs expense is 100% administrative