$ Cash Accounts receivable Office supplies Land Office equipment Accounts payable Common stock 25,410 Dividends 22,420 Consulting fees earned 5,320 Rent expense 44,050 Salaries expense 20,060 Telephone expense 10,510 Miscellaneous expenses 102,500 $ 6,650 27,060 9,610 5,650 940 560 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 $10,300 HELP TODAY Statement of Retained Earnings For Month Ended August 31 Retained earnings, August 1 Add: Net income 0 Less Dividends Retained earnings. August 31 $ 0