Data for Madison Realty Are as Follows Madison Realty Paid Dividends of $30,000 During 2011

Essay

Data for Madison Realty are as follows:
$\begin{array}{|l|r|}\hline \text { Total assets at December } 31,2010 & \$ 100,000 \\\hline \text { Total liabilities at December 31,2010 } & 35,000 \\\hline \text { Total revenues 2011 } & 79,000 \\\hline \text { Total expenses for 2011 } & 47,000 \\\hline \text { Common stock at December 31, 2010 } & 20,000\\\hline\end{array}$

Madison Realty paid dividends of $30,000 during 2011.From the above data,prepare Madison Realty's statement of retained earnings for the year ended December 31,2011.