Testing Company began the year with retained earnings of $$74300$ and earned net income of $$114900$ during the year.

The company also declared and paid $$59720$ in dividends and had a loss on treasury stock reissues of $$2560.$ Common Stock

of $$135000$ was issued this year. Prepare the Statement of Retained Earnings.

Testing Company

Statement of Retained Earnings

For Year Ended December $31$