I want to know if my statement of retained earnings is correct and how to add the ratios and disclosures to my document.

B 1 2 3 Paula's Plumbing, Inc. Statement of Retained Earnings For The Month Ending December 31, 2017 4 Retained earnings, December 1, 2017 $0 5 Add: Net Income $8,800.00 6 7 Less: Dividends $1,000.00 8 Retained earnings, December 31, 2017 $7,800.00 Comprehensive Computer Program, Page 6 Dec. 4 The Corporation performs adjusting entries monthly. Closing entries are performed annually on December 31. During December the following transactions occurred: Dec. 1 Issued 20,000 shares of capital stock to Paula Petersen and other investors in exchange for a total of $40,000 cash. Dec. 1 Paid $9,600 to Mages Realty for 12 months rent paid in advance. (Use the Asset account: Prepaid Rent for the entire amount). Dec.2 Purchased plumbing repair equipment and tools from Host Corp. for $15.000 (use the account Plumbing Equipment). Paid $5,000 in cash with the balance due on a Note Payable (principal and interest due in 6 months). Purchased office supplies on Account from Clousers for $1,000. Payment is due in 15 days. These supplies are expected to last for several months. Dec. 5 Purchased a 6 month business Insurance Policy for $1,200 from the Seyler Agency (use the Asset account Unexpired Insurance for the entire amount). Dec. 10 Received $4,000 cash from the Wink Apartment Complex in Exeter Township as advance payment for services to be provided. (Use the Liability account: Unearned Plumbing Fees.) Dec. 16 Paid employee salaries for the first two weeks of December, $2,000. Dec. 16 Earned $7,500 in fees for plumbing repairs completed in the first two weeks of December $3,000 was received in cash and the remainder was billed to PPI's customers on Account (due in 10 days.) Dec. 19 Paid the amount due to Clousers on account from the Dec. 4th purchase. Dec. 26 Received amount due on account from the December 16th billing. Dec. 27 PPI was named, along with Mages Agency, as a co-defendant in a $15,000 lawsuit filed on behalf of Joseph Walker. Walker slipped on ice outside of the shop and broke his leg. The extent of the Corporation's legal and financial responsibility, if any, can not be determined at this time. (Note: this event does not need a journal entry at this time, but may require disclosure in the notes accompanying the financial statements, Dec. 30 Received a phone bill for the month of December from Sprint in the amount of $300. The amount is due on January 15, 2017. Dec. 30 Declared a cash dividend of 5.05 (5 cents) per share, payable on January 15, 2017. Dec. 31 Earned $9,000 in fees for plumbing repairs provided for the second two weeks of December $4,000 was received in cash and the remainder was billed to PPI's customers on Account (due in 12 days.) Comprehensive Computer Program, Page Paula's Plumbing, Inc. ecember 1, 2017 Paula Petersen formed a corporation called Paula's Plumbing, Inc. to provide bing services for businesses and homeowners. The newly formed corporation uses the following nts: note that some of these accounts already exist. Account Name Category Type Cash *Use Checking Account Bank, Detail type is checking Accounts Receivable Already exists Prepaid Rent Other Current Assets Unexpired Insurance Other Current Assets Office Supplies Other Current Assets Plumbing Equipment Fixed Asset Accumulated Depreciation - Fixed Asset Plumbing Equipment Accounts Payable Already exists Notes Payable Long-term Liabilities Unearned Plumbing Fees Other Current Liabilities Interest Payable Other Current Liabilities Income Tax Payable Other Current Liabilities Dividends Payable Other Current Liabilities Payroll Payable Other Current Liabilities Capital or Common Stock Equity Retained Earnings Equity Dividends Equity Income Summary Equity Plumbing Fees Earned Income Depreciation Expense Expenses Income Tax Expense Expenses Insurance Expense Already exists Interest Expense Already exists Office Supplies Expense Already exists Rent or Lease Expense Already exists Payroll Expenses Expenses Utilities Expense Already exists as just Utilities Comprehensive Computer Program, Page 7 Data for Adjusting entries a. The advance payment for rent on December 1 covered a period of 12 months b. The Insurance Policy is for 6 months c. The annual interest rate on the Note Payable to Host, Corp. is 6% d. The Plumbing Equipment is being depreciated by the straight-line method for a period of 5 years. e. Office Supplies on hand on December 31 are estimated at $600 f. During December, PPI earned $1,000 of the plumbing fees paid in advance by Winks Apartment Complex December 10th. g. Salaries earned by employees since last payroll are $2,200. The Salaries will be paid on 1/3/15 h. The Accountant estimates that the amount of Income Tax Payable will be $2,500. These taxes will be paid in 2017