chegg.com GEL Enterprises Inc 2 On November 1 of the current year, Rob Elliot invested 530,500 of his cash to form a corporation, GGE Enterprises Inc in exchange for shares of common stock. No other common stock was issued dang November or December After a very successful first month of operations, the retained earnings as of November 30 were reported at $5,000. After all transactions have been entered into the accounting guntion for the month of December, the ending balances for selected iteris on December 31 Follow On that date the financial statements were prepared. The balance sheet reported total assets of $32.900 and total stockholders' equity of $37,990 Accounts Common Retained Fees Wages Rent Supplies Utilities Miscellaneous Cash Supplies Land Payable Stock Earnings Dividends Earned Expense Expense Expense Expense Expense ? 57,100 $15,500 $5,000 $6,500 $26,750 56,375 2 $4,500 $1,220 3415 Review the following questions, indicate which financial statement(s) report the desired information, Enter the amount reported on the financial statement (select "Yes" or "No" from the below dropdowns.) Statement of Balance Income Stockholders Sheet Statement Equity Amount 1. What is the amount reported for total liabilities and stockholders' cquity on December 31? Yes No No 53,900 X 2. What is the retained earings amount reported on December 317 Yes Yes 8,645 X 3. How much does GGE Enterprises Inc. owe to its creditors? Yes No No 14,755 X 4 How much cash is being held by GGE Enterprises Inc.? Yes No No 530,550 X 5. By what amount did retained carnings increase or decrease during the period? No No Yes 3,645 X 6. What is the amount of profit or loss during December? No Yes Yes 9,645 X 7. What were the total expenses for December? No Yes No 17,855 x 6. How much was paid for rent? No Yes No 5,250 No Check My Work Email Instructor Save and Exit Submit Assignment for Gradin