The adjusted trial balance for Salem Advertising Services is presented below:

Salem Advertising Services

Adjusted Trial Balance

December 31, 2024

Balance

Account Title

Debit

Credit

Cash

$14,300

Accounts Receivable

12,100

Office Supplies

7,400

Land

18,100

Building

51,000

Accumulated DepreciationBuilding

$35,100

Furniture

18,900

Accumulated DepreciationFurniture

13,400

Accounts Payable

10,200

Salaries Payable

7,000

Unearned Revenue

13,000

Common Stock

28,000

Retained Earnings

40,950

Dividends

20,100

Service Revenue

44,500

Salaries Expense

26,500

Supplies Expense

8,500

Depreciation ExpenseBuilding

3,200

Depreciation ExpenseFurniture

550

Advertising Expense

11,500

Total

$192,150

$192,150

Requirement 2. Prepare the statement of retained earnings for the year ending

December

31,

2024.

(Use a minus sign or parentheses to show a net loss.)