Rearrange the formula to compute the change in retained earnings and then solve for the missing expense amount for Morin Company. (Abbreviations used: Beg. retained earnings = Beginning retained earnings; End. retained earnings = Ending retained earnings.) Expenses Requirements 1. Compute the missing amount for Morin Company. You will need to determine Retained Earnings, December 31,2016, and total stockholders' equity. 2. Did Morin earn a net income or suffer a net loss for the year? Compute the amount. Beginning: Equity: Assets $ 41,000 Common Stock 2$ 12,000 Liabilities 11,000 Dividends 15,000 Ending: Revenues 177,000 Assets $ 78,000 Expenses ? Liabilities 40,000 Retained Earnings, Jan. 1, 2016 18,000