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 25,350 Dividends 22,340 Consulting fees earned 5,230 Rent expense 43,990 Salaries expense 19,980 Telephone expense 10,660 Miscellaneous expenses 101, 700 $ 5,980 26,980 9,530 5,590 850 500 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 nment Seved 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 25,350 Dividends 22,340 Consulting fees earned 5,230 Rent expense 43,990 Salaries expense 19,980 Telephone expense 10,660 Miscellaneous expenses $ 5,980 26,980 9,530 5,590 850 500 101,700 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 $10,510. HELP TODAY Statement of Retained Earnings