Retained Earnings Statement Zippy Zap Cameras Inc. reported the following results for the year ending October 31, 20Y9: Retained earnings, November 1, 20Y8 Net income Cash dividends declared $1,177,500 423,900 47,000 122,000 Stock dividends declared Prepare a retained earnings statement for the fiscal year ended October 31, 20Y9. Zippy Zap Cameras Inc. Retained Earnings Statement For the Year Ended October 31, 20Y9 Retained Earnings, November 1, 20Y8 Net Income Dividends Declared Increase in Retained Earnings Retained Earnings, October 31, 20Y9 1,177,500 423,900 169,000 592,900 X 1,346,500 x