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what is the retained earning? and what should be added because it shows answers not complete. Catena's Marketing Company has the following adjusted trial balance

what is the retained earning? and what should be added because it shows answers not complete. image text in transcribed
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Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $600 were declared at the end of the year, and 500 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $3,000 in cash (for a total at the end of the year of 800 shares). These effects are included below: 100 Catena's Marketing Company Adjusted Trial Balance End of the current Year Debit Credit Cash $ 1.500 Accounts receivable 2,200 Interest receivable Prepaid insurance 1,600 Long-term notes receivable 2,800 Equipment 15.290 Accumulated depreciation 3.000 Accounts payable 2.400 Dividends payable 600 Accrued expenses payable 3.920 Income taxes payable 2.700 Unearned rent revenue Common Stock (800 shares) Additional paid-in capital 3.620 Retained earnings 1.400 Sales revenue 38.500 Interest revenue 100 Rent revenue 800 Wages expense 19.500 Depreciation expense 1,800 Utilities expense Insurance expense Rent expense 9,000 Income tax expense 2,700 Total $57,620 557,620 Prepare a classified balance sheet for the end of the current year $ Current assets: Cash Accounts receivable Interest receivable Prepaid insurance 1,500 2,200 100 1,600 Total current assets Equipment (net of accumulated depreciation) 5,400 12,290 $ 17,690 Total assets Liabilities Current liabilities: Accounts payable Dividends payable Accrued expenses payable Income taxes payable 2,400 600 3,920 2,700 9,620 Total current liabilities Stockholders' equity Common stock Retained earnings Additional paid-in capital 80 1,400 3,620 Total stockholders' equity Total liabilities and stockhold lers 5,100 14,720 $

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