Retained Earnings Statement Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended December 31, 20Y3 Retained earnings, January 1, 20Y3 Net income Cash dividends declared Stock dividends declared Prepare a retained earnings statement for the year ended December 31, 20Y3. $59,650,000 8,160,000 1,000,000 2,600,000 Sumter Pumps Corporation Retained Earnings Statement For the Year Ended December 31, 20Y3 Retained Earnings, January 1, 20Y3 Net Income Cash x Dividends x Retained Earnings, December 31, 20Y3 59,650,000 | X 8,160,000 67,810,000 X 3,600,000 X 71,410,000 | X