Required information [The following information applies to the questions displayed below.] The Sky Blue Corporation has the following adjusted trial balance at December 31. Required: Prepare a statement of retained earnings for the year. \begin{tabular}{|l|l|} \hline \multicolumn{1}{|c|}{ SKY BLUE CORPORATION } \\ \hline \multicolumn{1}{|c|}{ Statement of Retained Earnings } \\ \hline & \\ \hline Balance, January 1 & \\ \hline & \\ \hline & \\ \hline Balance, December 31 & $ \\ \hline \end{tabular}