Required information [The following information applies to the questions displayed below.) As of December 31 of the current year, Armani Company's records show the following. Cash Accounts receivable $11,500 10,500 Supplies Equipment Accounts payable Common stock 7,500 6,500 14,000 15,500 Retained earnings, December 31, prior year 4,500 Retained earnings, December 31, current year 6,500 Dividends 14,500 Consulting revenue 36,000 Rental revenue 25,000 Salaries expense 21,500 Rent expense 13,500 Selling and administrative expenses 9,500 Required: Prepare the statement of retained earnings for Armani Company for the current year ended December 31. ARMANI COMPANY Statement of Retained Earnings For Current Year Ended December 31 1 Retained eamings, December 31, prior year Retained eamings, December 31, current year $ 0