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Angela Lopez owns and manages a consulting firm called Metrix, which began operations on December 1. On December 31, Metrix shows the following selected
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 Common stock Dividends Cash Accounts receivable $ 11,800 5,400 $ 19,200 3,900 Notes receivable 4,400 Consulting revenue 21,500 Office supplies 3,400 Rental revenue 2,400 Prepaid insurance 2,900 Salaries expense 4,900 Equipment 13,500 Rent expense 3,900 Accounts payable 7,380 Advertising expense Notes payable 4,300 Utilities expense 780 580 Unearned revenue 680 C 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a December income statement for the business. METRIX Income Statement Required 2 >
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