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Mint Cleaning Incorporated prepared the following unadjusted trial balance at the end of its second year of operations ending December $31.($Assume amounts are reported in thousands of dollars.$)$

Account Titles Debit Credit

Cash $ $44$

Accounts Receivable $15$

Prepaid Insurance $7$

Equipment $92$

Accumulated Depreciation $ $0$

Accounts Payable $15$

Salaries and Wages Payable $0$

Income Tax Payable $0$

Common Stock $91$

Retained Earnings $7$

Sales Revenue $93$

Insurance Expense $0$

Salaries and Wages Expense $16$

Supplies Expense $32$

Income Tax Expense $0$

Totals $ $206$ $ $206$

Other data not yet recorded at December $31$:

Insurance expired during the year, $$5.$

Depreciation expense for the year, $$4.$

Salaries and wages payable, $$7.$

Income tax expense, $$9.$

Required:

Using the adjusted balances, prepare a statement of retained earnings for the year ended December $31.($Enter your answers in thousands, not in dollars $($i$.$e$.,10,000$ should be entered as $10).)$