solving for part (B)

The adjusted trial balance of Charles Cooper Co. as of December 31, 2020, contains the following. CHARLES COOPER CO. ADJUSTED TRIAL BALANCE DECEMBER 31, 2020 Debit Credit Cash $19.957 Accounts Receivable 7,405 Prepaid Rent 2,765 18,535 Equipment Accumulated Depreciation Equipment $5,380 Notes Payable 6,185 Accounts Payable 5,957 Common Stock 20,485 Retained Earnings 11.795 Dividends 3,485 Service Revenue 12,075 Salaries and Wages Expense 7,325 Rent Expense 2,222 Depreciation Expense 183 Interest Expense 121 Interest Payable 121 $61,998 $61.998 Prepare an income statement. (Enter loss using either a negative sign preceding the number eg.-45 or parentheses eg. (45).) CHARLES COOPER CO. Income Statement For the Year Ended December 31, 2020 Revenues Service Revenue 12075 Expenses Salaries and Wages Expense 7.325 i Rent Expense 2.222 i Depreciation Expense 183 Interest Expense 121 Total Expenses 9851 Net Income/(Loss) 2.224 (b) Prepare a statement of retained earnings. (List items that increase retained earnings first.) CHARLES COOPER CO. Statement of Retained Earnings