Rockwell inc. reported the following results for the year ended june 30, 2016:
retained earnings, july 1, 2015 $3,900,000
net income, 714,000
cash dividends declared, 100,000
stock dividends declared, 50,000
prepare a retained earnings statement for the fiscal year ended june 30, 2016. refer to the lists of accounts, labels, and amount descriptions provided for the exact wording of the answer choices for text entries. enter all amounts as positive numbers. the word "less" is not required.

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.