Homework: Chapter 1 Homework Save Score: 0 of 1 pt 5 of 8 (2 complete) HW Score: 9%, 0.9 of 10 p S1-13 (similar to) Question Help Elegant Arrangements has just completed operations for the year ended December 31, 2018. This is the third year of operations for the company. The following data have been assembled for the business: B Click the icon to view the assembled data of Elegant Arrangements.) (Click the icon to view the income statement.) Prepare the statertient of retained earnings of Elegant Arrangements for the year ended December 31, 2018. Enter any increases in retained earnings prior to the subtotal and any decreases to retained earnings below the subtotal. - X Reference Retained Eamings, January 1, 2018 S 74,000 Elegant Arrangements Income Statement Year Ended December 31, 2018 Revenues Service Revenue Expenses Salaries Expense S Rent Expense Insurance Expense Utilities Expense Total Expenses Rolained Eamings, December 31, 2018 ! 47,000 7,000 3,500 500 i Data Table 58.000 $ $ 47,000 3,500 74,000 S Net Income 16,000 Insurance Expense Service Revenue Utilities Expense Rent Expense Common Stock Cash Retained Earnings, January 1, 2018 Salaries Expense Accounts Payable Office Supplies Dividends 500 7,000 8.900 2,000 4,600 3,500 24,500 Print Done Accounts Recnivable 10,000 5.800 Equipment 5,500 Print Done All parts showing Clear All Final Check Type here to search O g e 12:55 PM 5/19/2020 F