QS 3-30 (Algo) Preparing an income statement \& statement of retained earr (1) Prepare an income statement for the year ended December 31. (2) Prepare a statement of retained earnings for the year ended December 31. The Retained earni December 34 of the prior year. Complete this question by entering your answers in the tabs below. Prepare a statement of retained earnings for the year ended December 31. The Retained earnings acc 1) Prepare an income statement for the year ended December 31. (2) Prepare a statement of retained earnings for the year ended December 31. The Retained earnings December 31 of the prior year. Complete this question by entering your answers in the tabs below. Prepare an income statement for the year ended December 31. (1) Prepare an income statement for the year ended December 31. (2) Prepare a statement of retained earnings for the year ended December 31. The Retained earnings ac December 31 of the prior year. Complete this question by entering your answers in the tabs below. Prepare a statement of retained earnings for the year ended December 31 . The Retained earnings account bal $7,000 on December 31 of the prior year