CCE Assets Cash $28,300 Supplies (a) Equipment (net) 62,700 Total assets $ (b) Liabilities and Stockholders' Equity Liabilities w Notes payable $22,000 Stockholders' Equity Common stock 37.000 Retained earnings (0) Total liabilities and stockholders' equity $ (d) CULLUMBER COMPANY Income Statement Revenues $65,000 Depreciation expense (e) Salaries and wages expense 12.500 Interest expense 1,400 Net income $25,400 CULLUMBER COMPANY Retained Earnings Statement Beginning retained earnings $ (f) Add: Net income g Less: Dividends 5.500 Question 5 of 5 Salaries and wages expense 12,500 Interest expense 1,400 Net income $25,400 CULLUMBER COMPANY Retained Earnings Statement Beginning retained earnings $ (f) Add: Net income (8) Less: Dividends 5,500 Ending retained earnings $37.000