Presented below is the trial balance of Marin Corporation at December 31, 2017 MARIN CORPORATION TRIAL BALANCE DECEMBER 31, 2017 Debits Credits Purchase Discounts $13,670 Cash $193,370 Accounts Receivable 108,670 Rent Revenue 21,670 Retained Earnings 163,670 Salaries and Wages Payable 21,670 Sales Revenue 1,103,670 Notes Receivable 113,670 Accounts Payable 52,670 Accumulated DepreciationEquipment 28,734 Sales Discounts 18,170 Sales Returns and Allowances 21,170 Notes Payable 73,670 Selling Expenses 235,670 Administrative Expenses 102,670 Common Stock 303,670 Income Tax Expense 57,570 Cash Dividends 48,670 Allowance for Doubtful Accounts 8,670 Supplies 17,670 Freight in 23,670 Land 73,670 Equipment 143,670 Bonds Payable 120,552 Gain on Sale of Land 33,670 Accumulated DepreciationBuildings 20,334 Inventory 92,670 Buildings 101,670 Purchases 613,670 Totals $1,966,320 $1,966,320 A physical count of inventory on December 31 resulted in an inventory amount of $67,670 thus, cost of goods sold for 2017 is $648,670 Prepare a retained earnings statement Assume that the only changes in retained earnings during the current year were from net income and dividends (List items that increase retained earnings first )

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Presented below is the trial balance of Marin Corporation at December 31, 2017. MARIN CORPORATION TRIAL BALANCE DECEMBER 31, 2017 Debits Credits Purchase Discounts $13,670

Presented below is the trial balance of Marin Corporation at December 31, 2017.

MARIN CORPORATION TRIAL BALANCE DECEMBER 31, 2017
	Debits	Credits
Purchase Discounts		$13,670
Cash	$193,370
Accounts Receivable	108,670
Rent Revenue		21,670
Retained Earnings		163,670
Salaries and Wages Payable		21,670
Sales Revenue		1,103,670
Notes Receivable	113,670
Accounts Payable		52,670
Accumulated DepreciationEquipment		28,734
Sales Discounts	18,170
Sales Returns and Allowances	21,170
Notes Payable		73,670
Selling Expenses	235,670
Administrative Expenses	102,670
Common Stock		303,670
Income Tax Expense	57,570
Cash Dividends	48,670
Allowance for Doubtful Accounts		8,670
Supplies	17,670
Freight-in	23,670
Land	73,670
Equipment	143,670
Bonds Payable		120,552
Gain on Sale of Land		33,670
Accumulated DepreciationBuildings		20,334
Inventory	92,670
Buildings	101,670
Purchases	613,670
Totals	$1,966,320	$1,966,320

A physical count of inventory on December 31 resulted in an inventory amount of $67,670; thus, cost of goods sold for 2017 is $648,670.

Prepare a retained earnings statement. Assume that the only changes in retained earnings during the current year were from net income and dividends. (List items that increase retained earnings first.)