Susan May​ Bakery, Inc. reported a​ prior-period adjustment in 2018. An accounting error caused net income of prior years to be overstated by $7,000. Retained Earnings at December​ 31, 2017​, as previously​ reported, was $43,000. Net income for 2018 was $76,000​, and dividends declared were $30,000. Prepare the​ company's statement of retained earnings for the year ended December​ 31, 2018.

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