Statement of Retained Earnings Use the following data to prepare a statement of retained earnings for Shepler Corporation. Total retained earnings originally reported at January 1 $421,200 Cash dividends declared during the year 97,500 Net income for the year 250,900 Stock dividends declared during the year 39,000 Note: Do not use negative signs with any of your answers. SHELPER CORPORATION Statement of Retained Earnings For the Year Ended December 31 Retained Earnings, January 1 $ 421,200 Add: Net Income 250,900 Less: Cash Dividends Declared (39,000) x Stock Dividends Declared 0 x 0 x Retained Earnings, December 31 $ 535,600