Required information Preparing an Income Statement, Statement of Retained Earnings, and Balance Sheet and Interpreting the Financial Statements [LO 1-2, LO 1-3] [The following information applies to the questions displayed below.] Assume you are the president of Nuclear Company. At the end of the first year of operations (December 31), the following financial data for the company are available: Accounts Payable Accounts Receivable Cash $ 40,000 61,000 17,000 Common Stock 64,780 Dividends 300 Equipment 35,000 Notes Payable 1,570 Operating Expenses 65,500 Other Expenses 9,350 Sales Revenue 89,300 Supplies 7,500 CP1-1 (Algo) Part 2 2. Prepare a statement of retained earnings for the year ended December 31. TIP: Because this is the first year of operations, the beginning balance in Retained Earnings will be zero. NUCLEAR COMPANY Statement of Retained Earnings Retained Earnings, January 1 Retained Earnings, December 31