Dawson Hair Stylists' adjusted trial balance and income statement follow. Prepare

Dawson's

statement of retained earnings for the year ended

December

31,

2024.

Dawson Hair Stylists

Adjusted Trial Balance

December 31, 2024

Balance

Account Title

Debit

Credit

Cash

$700

Accounts Receivable

1,900

Office Supplies

1,200

Equipment

20,100

Accumulated DepreciationEquipment

$1,400

Accounts Payable

600

Interest Payable

200

Notes Payable

3,800

Common Stock

9,350

Dividends

650

Service Revenue

15,500

Rent Expense

4,100

Supplies Expense

100

Depreciation ExpenseEquipment

1,400

Interest Expense

700

Total

$30,850

$30,850

(Click on the icon to view the adjusted trial balance.)

Dawson Hair Stylists

Income Statement

Year Ended December 31, 2024

Revenues:

Service Revenue

$15,500

Expenses:

Rent Expense

$4,100

Interest Expense

700

Depreciation ExpenseEquipment

1,400

Supplies Expense

100

Total Expenses

6,300

Net Income (Loss)

$9,200

(Click on the icon to 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 cell.)

	Dawson Hair Stylists
	Statement of Retained Earnings
	Year Ended December 31, 2024
Retained Earnings, January 1, 2024
Retained Earnings, December 31, 2024

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