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Question #2: (3 marks) Cesar Ruiz was reviewing his company's activities at the end of the year (2022) and decided to prepare a retained

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Question #2: (3 marks) Cesar Ruiz was reviewing his company's activities at the end of the year (2022) and decided to prepare a retained earnings statement. At the beginning of the year, his assets were $530,000, liabilities were $140,000, and common stock was $120,000. Revenues were $550,000 and expenses were $300,000 for the year. Dividends of $220,000 were paid during the year. Required: Prepare a Retained Earnings Statement in good form. I=

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