The following account balances were selected from the records of beverage maker Blake Corporation at December 31 after all adjusting entries were completed: Common stock (par $15; authorized 100,000 shares, issued 28,000 shares, of which 1, 200 shares are held as treasury stock) Additional paid-in capital-common stock Dividends Retained earnings, beginning of year Treasury stock at cost (1,200 shares) $ 420,000 173,000 21,000 69,000 24,000 Net income for the year was $37,500. Required: 1-a. Prepare the statement of retained earnings for the year ended December 31. 1-b. Prepare the stockholders' equity section of the balance sheet at December 31. 2. Determine the number of shares of stock that received dividends. 3. Compu the ROE ratio for the current year, assumi total stockholders' equity was $622,000 on December 31 of the previous year. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 Req 3 Compute the ROE ratio for the current year, assuming total stockholders' equity was $622,000 on December 31 of the previous year. (Round your answer to 1 decimal place.) ROE Ratio % The following account balances were selected from the records of beverage maker Blake Corporation at December 31 after all adjusting entries were completed: Common stock (par $15; authorized 100,000 shares, issued 28,000 shares, of which 1, 200 shares are held as treasury stock) Additional paid-in capital-common stock Dividends Retained earnings, beginning of year Treasury stock at cost (1,200 shares) $ 420,000 173,000 21,000 69,000 24,000 Net income for the year was $37,500. Required: 1-a. Prepare the statement of retained earnings for the year ended December 31. 1-b. Prepare the stockholders' equity section of the balance sheet at December 31. 2. Determine the number of shares of stock that received dividends. 3. Compute the ROE ratio for the current year, assuming total stockholders' equity was $622,000 on December 31 of the previous year. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 Req 3 Prepare the stockholders' equity section of the balance sheet at December 31. (Amounts to be deducted should be indicated by a minus sign.) BLAKE CORPORATION Balance Sheet (Excerpt) At December 31 Stockholders' Equity Contributed Capital: Total Contributed Capital 0 Total 0 Total Stockholders' Equity $ 0 The following account balances were selected from the records of beverage maker Blake Corporation at December 31 after all adjusting entries were completed: Common stock (par $15; authorized 100,000 shares, issued 28,000 shares, of which 1, 200 shares are held as treasury stock) Additional paid-in capital-common stock Dividends Retained earnings, beginning of year Treasury stock at cost (1,200 shares) $420,000 173,000 21,000 69,000 24,000 Net income for the year was $37,500. Required: 1-a. Prepare the statement of retained earnings for the year ended December 31. 1-b. Prepare the stockholders' equity section of the balance sheet at December 31. 2. Determine the number of shares of stock that received dividends. 3. Compute the ROE ratio for the current year, assuming total stockholders' equity was $622,000 on December 31 of the previous year. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 Req 3 Prepare the statement of retained earnings for the year ended December 31. BLAKE CORPORATION Statement of Retained Earnings For the Year Ended December 31 Retained Earnings, January | $ 1 69,000 Add: Net Income 37,500 Less: Dividends (21,000) Retained Earnings, $ December 31 85,500