The revenues and expenses of Paradise Travel Service for the year ended May 31, 2018, follow:

Accounts
Fees earned	$900,000
Office expense	300,000
Miscellaneous expense	15,000
Wages expense	450,000

Everett McCauley invested an additional $40,000 in the business in exchange for common stock, and $10,000 of dividends were paid during the year. Retained earnings as of June 1, 2017, were $300,000.

Prepare a retained earnings statement for the year ended May 31, 2018. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. Less or Add is not required. A decrease to retained earnings should be entered as a negative amount.

Prepare a retained earnings statement for the year ended May 31, 2018. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. Less or Add is not required. A decrease to retained earnings should be entered as a negative amount.