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 25,240 Dividends 22,260 Consulting fees earned 5, 110 Rent expense 43,920 Salaries expense 19,890 Telephone expense 10,740 Miscellaneous expenses 100,700 $ 5,870 26,900 9,420 5,490 730 410 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 $10,850. HELP TODAY Statement of Retained Earnings