Reporting Amounts on the Four Basic Financial Statements and Evaluating Financial Statements $[$LO $1-2,$

LO $1-3]$

$[$The following information applies to the questions displayed below.$]$

EZ Fitness, Incorporated, reported the following information for the six$-$month period ended June $29,2019.$ Items are listec alphabetically and are in thousands of dollars.

Accounts Payable

Accounts Receivable

Advertising Expense

Cash $($January $1,2019)$

Cash $($June $29,2019)$

Common Stock

Dividends

Equipment

Income Tax Expense

Inventory.

Notes Payable

Office Expense

Operating Expenses

Retained Earnings $($January $1,2019)$

Sales Revenue

Supplies

$$1,029,500$

$602,000$

$70,800$

$1,384,800$

$1,078,000$

$1,537,000$

$310,800$

$3,066,800$

$79,800$

$649,800$

$349,100$

$657,800$

$694,800$

$2,726,800$

$1,738,000$

$169,800$

Other cash flow information:

Cash received from issuing common stock

Cash paid to purchase equipment

Cash paid to suppliers and employees

Cash received from customers

Cash received from sale of long$-$term assets

Dividends paid to stockholders

$$58,800$

$530,800$

$1,432,800$

$1,724,000$

$184,800$

$310,800$

CP$1-3($Algo$)$ Part $2$

$2.$ Prepare a statement of retained earnings for the six months ended June $29,2019.($Enter your answers in thousands.$)$

$\backslash$table$[[$EZ FITNESS, Incorporated$],[$Statement of Retained Earnings$],[$For the Six Months Ended June $29,2019],[($in thousands$)],[$Retained Earnings, January $1,2019],[$Add: Net Income,$234,800],[$Less: Dividends,$310,800]]$