Carmen Camry operates a consulting firm called Help Today, which began operations on August 1. On August 31, the company's records show the following selected accounts and amounts for the month of August. Cash Accounts receivable Office supplies Land office equipment Accounts payable Common stock 25,310 Dividends 22,320 Consulting fees earned 5,200 Rent expense 43,970 Salaries expense 19,960 Telephone expense 10,700 Miscellaneous expenses 101,400 $ 5,950 26,960 9,500 5,560 820 470 Exercise 2-16 Preparing an income statement LO C3, P3 Use the above information to prepare an August income statement for the business. HELP TODAY Income Statement Use the above information to prepare an August income statement for the business. HELP TODAY Income Statement 0 Cash Accounts receivable Office supplies Land Office equipment Accounts payable Common stock 25,310 Dividenda 22,320 Consulting fees earned 5,200 Rent expense 43,970 Salaries expense 19,960 Telephone expense 10,700 Miscellaneous expenses 101,400 $ 5,950 26,960 9,500 5,560 820 470 Exercise 2-17 Preparing a statement of retained earnings LO P3 Use the above information to prepare an August statement of retained earnings for Help Today. The Retained Earnings account balance at August 1 was $0. Hint: Net income for August is $10,610. HELP TODAY Statement of Retained Earnings $ 0 Cash Accounts receivable Office supplies Land Office equipment Accounts payable Common stock 25,310 Dividends 22,320 Consulting fees earned 5,200 Rent expense 43,970 Salaries expense 19,960 Telephone expense 10,700 Miscellaneous expenses 101,400 $ 5,950 26,960 9,500 5,560 820 470 Exercise 2-18 Preparing a balance sheet LO P3 Use the above information to prepare an August 31 balance sheet for Help Today. HELP TODAY Balance Sheet Total equity 0 0 0