The Sky Blue Corporation has the following adjusted trial balance at December 31. Cash Debit $1,260 Credit Accounts Receivable 2,300 Prepaid Insurance 2,600 Notes Receivable (long-term) 3,300 Equipment 13,500 Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Deferred Revenue $ 3,200 5,720 1,150 3,200 660 Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Salaries and Wages Expense 22,200 Depreciation Expense 1,600 Utilities Expense 4,520 Insurance Expense 1,700 Rent Expense Income Tax Expense 6,300 3,200 Total $ 62,810 $ 62,810 2,700 1,120 330 44,730 338 Required: Prepare a statement of retained earnings for the year. SKY BLUE CORPORATION Slavement of Retained Earnings Balance, January 1 Balance, December 31