These items are taken from the financial statements of Whispering Winds Corp. for 2017.

Retained earnings (beginning of year) $35,530

Utilities expense 2,150

Equipment 70,530

Accounts payable 20,750

Cash 11,750

Salaries and wages payable 6,280

Common stock 12,000

Dividends 12,000

Service revenue 71,540

Prepaid insurance 6,780

Maintenance and repairs expense 1,650

Depreciation expense 3,320

Accounts receivable 14,150

Insurance expense 2,480

Salaries and wages expense 40,540

Accumulated depreciationequipment 19,250

Prepare a retained earnings statement for the year ended December 31, 2017. (List items that increase retained earnings first.)