Problem $1$

The following information were taken from the worksheet of Braiden Company for the year ending December $31,2023$:

$\backslash$table$[[$Purchases$,,63,000],[$Office supplies expense,,$800],[$Advertising expense,,$1,700],[$Salaries payable,,$800],[$Delivery expense,,$1,900],[$Interest expense,,$2,000],[$Sales$,,100,800],[$Purchase discounts,,$1,800],[$Sales retums and allowances,,$1,200],[$Sales salaries expense,,$8,000],[$Freight$-$in$,,2,000],[$Accounts receivable,,$25,000],[$Interest income,,$5,000],[$Office equipment rental expense,$3,000,],[$Purchase returns and allowances,,$2,200],[$Sales discounts,,$2,000],[$Office salaries expense,,$4,000],[$Depreciation expense$-$display furniture,,$3,000],[$Merchandise inventory, January $1,3,700,],[$Merchandise inventory, Deoember $31,,4,800],[$Store rent expense,,$3,600],[$Retained earnings, December $31,2022,,32,000],[$Dividends declared,,$3,000]]$

Required:

Using the information provided above prepare multiple$-$step income statement

Prepare a separate statement of retained earnings.

Prepare closing entries $($complete explanation for each entry$).$