QS 3-28 (Algo) Preparing a statement of retained earnings LO C2 J. Clancy owns Clancy Consulting. On December 31 of the prior year, the Retained Earnings account balance was $23,500. During the current year, the company paid $12,400 in cash dividends. Clancy Consulting reports net income of $49,100 for the current year. Prepare a statement of retained earnings for Clancy Consulting for the current year ended December 31