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Davin Hair Stylists' adjusted trial balance and income statement follow. Prepare Davin Hair Stylists' statement of retained earnings for the year ended December 31,
Davin Hair Stylists' adjusted trial balance and income statement follow. Prepare Davin Hair Stylists' statement of retained earnings for the year ended December 31, 2025. Assume beginning Retained Earnings is $0. View the adjusted trial balance. View the income statement. Enter any increases in retained earnings prior to the subtotal and any decreases to retained earnings below the subtotal. (For amounts with a $0 balance, make sure to enter "0" in the appropriate input field.) Davin Hair Stylists Statement of Retained Earnings Year Ended December 31, 2025 Retained Earnings, January 1, 2025 Adjusted trial balance Davin Hair Stylists - Income statement Adjusted Trial Balance Davin Hair Stylists December 31, 2025 Income Statement Balance Year Ended December 31, 2025 Account Title Debit Credit Revenues: Retained Earnings, December 31, 2025 Cash $ 600 Service Revenue $ 16,700 Accounts Receivable 1,400 Expenses: Supplies 500 Rent Expense $ 5,400 Equipment 19,200 Interest Expense 2,400 Accumulated Depreciation- Depreciation Expense-Equipment 1,400 Equipment $ 1,400 400 Supplies Expense Accounts Payable 900 9,600 Total Expenses Interest Payable 200 $ 7,100 Notes Payable 3,200 Net Income (Loss) Common Stock 9,800 Dividends 900 Service Revenue 16,700 Print Done Rent Expense 5,400 Supplies Expense 400 Depreciation Expense- Equipment 1,400 2,400 Interest Expense $ 32,200 $ 32,200 Total Print Done
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