The following account balances were included in the trial balance of Swifty Corporation at June 30,2020 . The Retained Earnings account had a balance of $361,900 at July 1, 2019. There are 78,560 shares of common stock outstanding. Prepare a retained earnings statement for the year ended June 30, 2020. (List items that increase adjusted retained earnings first. SYVIFTY CORPORATION Incone Statement For the Year Ended yune 30,2020 Sales Revenue \( 4 \longdiv { 1 5 9 0 7 4 0 } \) Sales Returas and Allowances Net Sales 4 32570 Cost of Goods Sold Operating Expenses Selling Expranses 5 Sales Commies pros Sales Commissions Delivery Expense \begin{tabular}{rr|} \hline 22690 \\ \hline & 14980 \\ \hline 9100 \\ \hline \end{tabular} Depreciation Expense 5289 \begin{tabular}{|lc|} \hline Maintenance and Repairs Expense & 5707 \\ \hline Miscellaneous Selling Expenses & 4898 \\ \hline & \\ \hline Bad Debt Expense & 4393 \\ \hline \end{tabular} Total Selling Expenses 257137 Administrative Expenses Supplies Expense 3373 Telephone and internet Expense 2560 Depreciation Expense 6648 Property Tax Expense 7291 Question 5 of 8 supples axpense: Telephone and Intemat Expense 2560 Depreciation Expense 6+48 Property Tax Exprenee 7291 Maintenance ard Repairs Expanee 9659 Offce Expenses Total Aaministrative Expenises 34991 Incomefrom Cperations 292128 Licomin fron Operations licome Beforit forine Tor 2727 The following account balances were included in the trial balance of Swifty Corporation at June 30,2020 . The Retained Earnings account had a balance of $361,900 at July 1, 2019. There are 78,560 shares of common stock outstanding. Prepare a retained earnings statement for the year ended June 30, 2020. (List items that increase adjusted retained earnings first. SYVIFTY CORPORATION Incone Statement For the Year Ended yune 30,2020 Sales Revenue \( 4 \longdiv { 1 5 9 0 7 4 0 } \) Sales Returas and Allowances Net Sales 4 32570 Cost of Goods Sold Operating Expenses Selling Expranses 5 Sales Commies pros Sales Commissions Delivery Expense \begin{tabular}{rr|} \hline 22690 \\ \hline & 14980 \\ \hline 9100 \\ \hline \end{tabular} Depreciation Expense 5289 \begin{tabular}{|lc|} \hline Maintenance and Repairs Expense & 5707 \\ \hline Miscellaneous Selling Expenses & 4898 \\ \hline & \\ \hline Bad Debt Expense & 4393 \\ \hline \end{tabular} Total Selling Expenses 257137 Administrative Expenses Supplies Expense 3373 Telephone and internet Expense 2560 Depreciation Expense 6648 Property Tax Expense 7291 Question 5 of 8 supples axpense: Telephone and Intemat Expense 2560 Depreciation Expense 6+48 Property Tax Exprenee 7291 Maintenance ard Repairs Expanee 9659 Offce Expenses Total Aaministrative Expenises 34991 Incomefrom Cperations 292128 Licomin fron Operations licome Beforit forine Tor 2727