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Stone Culture Corporation was organized on January 1: 2020. For its first two years of operations, it reported the following: Net Income for 2020

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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: $ 48,000 53,000 19,000 28,000 133,000 250,000. 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.

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