Sjostrom, Inc. had beginning retained earnings of $$260,000$ on January $1,2018.$ During the year, Sjostrom declared and paid $$140,000$ of cash dividends and earned $$150,000$ of net income. Prepare a statement of htained earnings for Sjostrom, Inc. for the year ended December $31,2018.$

Enter any increases in retained earnings prior to the subtotal and any decreases to retained earnings below the subtotal.

Sjostrom, Inc.

Statement of Retained Earnings

Year Ended December $31,2018$