Pressure Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended January 31, 20Y2: Retained earnings, February 1, 20Y1 $53,783,000 Net income 8,135,000 Cash dividends declared 980,000 Stock dividends declared 2,526,000 Required: Prepare a retained earnings statement for the fiscal year ended January 31, 20Y2. Be sure to complete the statement heading. Refer to the lists of Accounts, Labels, and Amount Descriptions provided for the exact wording of the answer choices for text entries. A decrease to retained earnings should be entered as a negative amount. Accounts Accounts payable Accounts receivable Cash Dividends declared Stock dividends declared Labels For the Year Ended January 31, 20Y2 January 31, 20Y2 Amount Descriptions Decrease in retained earnings Excess of issue price over par Increase in retained earnings Issuance of additional common stock Issuance of additional preferred stock Net income Net loss Retained earnings, February 1, 20Y1 Retained earnings, January 31, 20Y2 Prepare a retained earnings statement for the fiscal year ended January 31, 20Y2. Be sure to complete the statement heading. Refer to the lists of Accounts, Labels, and Amount Descriptions provided for the exact wording of the answer choices for text entries. A decrease to retained earnings should be entered as a negative amount. Score: 28/50 Pressure Pumps Corporation Retained Earnings Statement For the Year Ended January 31, 20Y2 1 Retained earnings, February 1, 20Y1 $53,783,000.00 2 Net income $8,135,000.00 3 Stock dividends declared 2,526,000.00 4 Dividends declared 980,000.00 5 Retained earnings, January 31, 20Y2 $54,763,000.00