C&P Moving Company Two brothers, Chris and Pat, are students at Texas A&M University and have decided to begin their own business. They organized C & P Moving Company in April, 2011, and began operating on May 1. The companys April 30 balance sheet follows: Assets Liabilities and Stockholders Equity Cash $ 9,850 Notes payable $ 5,000 Prepaid insurance 150 Common stock 5,000 Total Assets $10,000 Total Liabilities and Stk. Equity $10,000 The following transactions occurred during May: May 1 Purchased supplies on account, $100 1 Received $250 cash from Bryco Company for moving services to be performed over the next two months as the company relocates its office and warehouse 2 Paid $350 to Acme Rentals to rent a moving truck for the current month 3 Received $800 cash from customers for moving services performed 5 Paid $40 to advertise in the Battalion; the ads will run May 6 12 8 Performed moving services and billed customers $1,200 15 Paid part-time helpers $125 in wages 21 Made payment on account, $50 25 Received cash from customers billed previously, $750 30 Purchased equipment (hand-trucks) costing $280 by paying $100 cash with balance on account payable 31 Paid dividends totaling $500 ($250 to each brother) Additional information at May 31: (a) Supplies on hand total $25 (b) Employee wages earned but not yet paid amount to $175 (c) The note payable is a 12-month note dated April 30, and has an annual interest rate of 1.2%. The note plus accrued interest will be paid at maturity. Interest accrued on the note payable as of May 31 is $5. (d) The moving services promised to Bryco are 80% complete as of May 31. (e) The prepaid insurance account represents liability insurance purchased on April 30; C&P paid $150 on that date for the three- month period beginning May 1. What would be the ending retained earnings for this problem?