The adjusted trial balance of Cullumber Company at December 31, 2019, includes the following accounts: Common Stock $16,000, Dividends $7,000, Service Revenue $36,000, Salaries and Wages Expense $15,000, Insurance Expense $1,000, Rent Expense $3,000, Supplies Expense $1,000, and Depreciation Expense $1,000. The balance in Common Stock is the balance as of January 1. Prepare a retained earnings statement for the year assuming net income is $15,000 for the year and Retained Earnings is $7,000 on January 1. (List items that increase owner's equity first.)