Marisol Company has just completed operations for the year ended December 31, 2016. This is the second year of operations for the company. The following data have been assembled for the business. 
Prepare the statement of retained earnings. Use a proper heading.
Definitions:
Elastic Supply
A situation in which the supply of a good or service changes significantly in response to changes in price.
Labor Supply
Refers to the total hours that workers are willing and able to work at a given wage rate, in a given period.
Deadweight Loss
The drop in economic efficiency due to the inability or failure of a good or service to reach its equilibrium state.
Government Revenue
The total income received by the government from taxes, fees, and non-tax sources like government-owned enterprises and foreign aid.
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