Prepare a retained earnings statement. The balance in retained earnings on January 1, 2017, for Palmer Inc. was $800,000. During the year, the corporation paid cash dividends of $90,000 and distributed a stock dividend of $8,000. In addition, the company determined that it had understated its insurance expense in prior years by $50,000. Net income for 2017 was $120,000. Prepare the retained earnings statement for 2017.

lines and shapes are a part of the visual elements which can be played with and used to create a mood or feeling in a composition.

some of the other elements include the pattern, color, tone and texture. all these elements serve together as the construction blocks which are used by the artists to create artwork.

lines are used to form drawings and different shapes are formed when these lines are used in certain lengths or angles. so the artist can play with these elements of art to create and express different moods, thus conveying different  meanings.