Shimmer Bakery, Inc. reported a prior$-$period adjustment in $2025.$ An accounting error caused net income of prior years to be

overstated by $$8,000.$ Retained Earnings at December $31,2024,$ as previously reported, was $$44,000.$ Net income for $2025$

was $$78,000,$ and dividends declared were $$20,000.$ Prepare the company's statement of retained earnings for the year

ended December $31,2025.($Enter any current period increases in retained earnings prior to the subtotal, and enter any

current period decreases to retained earnings below the subtotal.$)$

Shimmer Bakery, Inc.

Statement of Retained Earnings

Year Ended December $31,2025$