Partial adjusted trial balance for Blue Spruce Corp. at December 31, 2017, includes the following accounts: Retained Earnings $16,300, Dividends $5,800, Service Revenue $36,100, Salaries and Wages Expense $13,800, Insurance Expense $1,790, Rent Expense $4,010, Supplies Expense $1,490, and Depreciation Expense $850. The balance in Retained Earnings is the balance as of January 1.
Required:
Prepare a retained earnings statement for the year assuming net income is $15,787.
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