The adjusted account balances of Wildhorse Corp. at December $31,2022,$ includes the following accounts: Retained Earnings

$$27,300,$ Dividends $$3,900,$ Service Revenue $$58,500,$ Interest Revenue $$4,030,$ Rent Expense $$6,240,$ Depreciation Expense $$3,250,$

and Salaries and Wage Expense $$23,660.$ The balance in Retained Earnings is the balance of January $1,2022.$

Your answer is correct.

Determine net income for the year.

Net income

eTextbook and Media

$($a$2)$

Prepare a retained earnings statement for the year. $($List items that increase retained earnings first.$)$

WILDHORSE CORP

Retained Earnings Statement