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Waterway Ltd. has retained earnings of NT$678,500 at January 1, 2022. Net income during 2022 was NT$1,601,200, and cash dividends declared and paid during

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Waterway Ltd. has retained earnings of NT$678,500 at January 1, 2022. Net income during 2022 was NT$1,601,200, and cash dividends declared and paid during 2022 totaled NT$79,000. Prepare a retained earnings statement for the year ended December 31, 2022. (List items that increase retained earnings first.) WATERWAY LTD Retained Earnings Statement NT$ NT$

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