The Deluxe Store is located in midtown Madison. During the past several years, net income has been declining because of suburban shopping centers. At the end of the companys fiscal year on November 30, 2015, the following accounts appeared in two of its trial balances.

		Unadjusted		Adjusted				Unadjusted		Adjusted
Accounts Payable		$ 25,850		$ 25,850		Inventory		$28,000		$28,000
Accounts Receivable		30,820		30,820		Notes payable		36,300		36,300
Accumulated Depr.Equipment		34,000		44,900		Prepaid Insurance		10,000		2,900
Cash		25,500		25,500		Property Tax Expense				2,240
Common Stock		48,100		48,100		Property Taxes Payable				2,240
Cost of Goods Sold		510,400		510,400		Rent Expenses		14,400		14,400
Dividends		12,000		12,000		Rentained Earnings		50,370		50,370
Freight-Out		5,600		5,600		Salaries and Wages Expense		95,400		95,400
Equipment		140,000		140,000		Sales Revenue		698,000		698,000
Depreciation Expense				10,900		Sales Commissions Expense		7,200		11,000
Insurance Expense				7,100		Sales Commissions Payable				3,800
Interest Expense		5,600		5,600		Sales Returns and Allowances		7,900		7,900
Interest Revenue		8,200		8,200		Utilities Expense		8,000		8,000

$ $ 698,000 7,900 690,100 510,400 179,700 Particulars Sales Revenue Sales Revenue Less: Sales Returns and Allowances Net Sales Less: Cost of goods sold Gross Profit/(Loss) Less: Operating Expenses Freight-Out Depreciation expense Insurance expense Rent expenses Salaries and Wages Expense Sales Commission Expense Utilities Expense Property tax Expense Total Operating Expenses Income from Operations Other Revenue and Expenses Interest Revenue Other Expenses and Losses Less: Interest Expense Net Income / (Loss) 5,600 10,900 7,100 14,400 95,400 11,000 8,000 2,240 154,640 25,060 8,200 5,600 2,600 27,660 Prepare a retained earnings statement. (List items that increase retained earnings first.) THE DELUXE STORE Retained Earnings Statement For the Year Ended November 30, 2015