How would I prepare the retained earnings portion of a statement of change in owners equity for the year endind in December 31 2015 with the following information?
Retained earnings, December 31, 2014 $418,000
Cost of equipment purchased during 2015 127,000
Net loss for the year ended December 31, 2015 42,000
Dividends declared and paid in 2015 47,000
Decrease in cash balance Jan 1, 2012 to December 31, 2015 12,000
Decrease in long-term debt in 2015 65,000.