Stone Culture Corporation was organized on January 1, 2020. For its first two years of operations, it reported the following: Net Income for 2020 Net Income for 2021 Dividends for 2020 Dividends for 2021 Total assets at the end of 2020 Total assets at the end of 2021 Required: $ 45,000 50,000 17,500 25,000 130,000 247,000 On the basis of the data given, prepare a statement of retained earnings for both 2020 (its first year of operations) and 2021. Complete this question by entering your answers in the tabs below. 2020 2021 On the basis of the data given, prepare a statement of retained earnings for 2020. STONE CULTURE CORPORATION Statement of Retained Earnings Retained Earnings, January 1, 2020 Retained Earnings, December 31, 2020 Stone Culture Corporation was organized on January 1, 2020. For its first two years of operations, it reported the following: Net Income for 2020 Net Income for 2021 Dividends for 2020 Dividends for 2021 Total assets at the end of 2020 Total assets at the end of 2021 Required: $ 45,000 50,000 17,500 25,000 130,000 247,000 On the basis of the data given, prepare a statement of retained earnings for both 2020 (its first year of operations) and 2021. Complete this question by entering your answers in the tabs below. 2020 2021 On the basis of the data given, prepare a statement of retained earnings for 2021. STONE CULTURE CORPORATION Statement of Retained Earnings Retained Earnings, January 1, 2021 Retained Earnings, December 31, 2021 < 2020 2021 >