Sunland Ltd. has a September 30 fiscal year end and a 15% income tax rate. The following information is available for its 2024 year end: 1. Earned $609,400 of service revenue and incurred $509,200 of operating expenses. Interest expense was $2,880. 2. On October 5,2023 , paid $57,600 of dividends that had been declared on September 25, 2023. 3. On September 28, 2024, declared $46,080 of dividends payable on October 8,2024. 4. Retained earnings on September 30,2023 , were $273,600. 5. Issued common shares for $28,800 cash on July 2, 2024. Prepare an income statement. Journalize the adjustment for income tax assuming no income tax instalments were made during the year. (Credit account tities are outomotically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter of for the amounts. List debit entry before credit entry.) Prepare a statement of retained carnings. (List items that increase retained earnings first.)