Exercise 2-5A Understand the components of retained earnings (LO2-2) At the beginning of April, Owl Corporation has a balance of $12,200 in the Retained Earnings account. During the month of April, Owl had the following external transactions. Required: Using the external transactions below, compute the balance of Retained Earnings at April 30. (Decreases should be entered as a negative.) Balance $ 12,200 Transaction Retained earnings, April 1 1. Issue common stock for cash, $12,000. 2. Provide services to customers on account, S7,700. 3. Provide services to customers in exchange for cash, $2,400. 4. Purchase equipment and pay cash, $6,800. 5. Pay rent for April, $1,300. 6. Pay employee salaries for April, $2,700. 7. Pay dividends to stockholders, $1,600. Retained earnings, April 30