Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit Cash Accounts Receivable $3,150 5,650 Prepaid Insurance Equipment Accumulated Depreciation, Equipment 4,480 42,000 $24,000 Accounts Payable Salaries Payable 2,800 4,450 Unearned Service Revenue Common Stock 3,875 8,000 Retained Earnings 2,255 Dividends 10,400 Service Revenue 99,500 Salaries Expense 49,400 Retamed Earnings Dividends Service Revenue Salaries Expense Rent Expense Insurance Expense Depreciation Expense Income Taxes Expense Totals Required: 2,255 10,400 99,500 49,400 17,250 2,200 4,950 5,400 $144,880 $144,880 Prepare a retained earnings statement for Sparrow for 2019. Sparrow Company Retained Earnings Statement For the Year Ended December 31, 2019 Beginning retained earnings Add: Net income Less: Dividends Ending retained earnings 2,255 20,400 X 10,400 12,155 V