Angela Lopez owns and manages a consulting firm called Metrix, which began operations on December 1. On December 31, Metrix shows the following selected accounts and amounts for the month of December. Cash Accounts receivable Notes receivable Common stock Dividends $ 11,600 $ 18,800 5,300 3,800 4,300 Consulting revenue 21,000 Office supplies 3,300 Rental revenue 2,300 Prepaid insurance 2,800 Salaries expense 4,800 Equipment 13,000 Rent expense 3,800 Accounts payable 7,060 Advertising expense 760 Notes payable 4,200 Utilities expense 560 Unearned revenue 660 Required: 1. Prepare a December income statement for the business. 2. Prepare a December statement of retained earnings. The Retained Earnings account balance at December 1 was $0. 3. Prepare a December 31 balance sheet. Hint: Use the Retained Earnings account balance calculated in part 2.