Wildhorse Ltd. has a September 30 fiscal year end and a 15% income tax rate. The following information is available for its 2021 year end: 1. Earned $558,000 of service revenue and incurred $474,000 of operating expenses. Interest expense was $2,700. 2. On October 5, 2020, paid $50,000 of dividends that had been declared on September 25, 2020. 3. On September 28, 2021, declared $40,500 of dividends payable on October 8, 2021. 4. Retained earnings on September 30, 2020, were $216,500. 5. Issued common shares for $28,300 cash on July 2, 2021 (c) Prepare a statement of retained earnings. (List items that increase retained earnings first.) WILDHORSE LTD. Statement of Retained Earnings EA V: